Document and Entity Information (USD $)	12 Months Ended
Document and Entity Information (USD $)	Dec. 31, 2014	Mar. 16, 2015	Jun. 30, 2014
Document And Entity Information [Abstract]
Entity Registrant Name	CHATHAM LODGING TRUST
Entity Central Index Key	0001476045
Trading Symbol	CLDT
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		38,298,287
Entity Public Float			$ 588,622,878.30

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Assets:
Investment in hotel properties, net	$ 1,096,425	$ 652,877
Cash and cash equivalents	15,077	4,221
Restricted cash	12,030	4,605
Investment in unconsolidated real estate entities	28,152	774
Hotel receivables (net of allowance for doubtful accounts of $71 and $30, respectively)	3,601	2,455
Deferred costs, net	7,514	7,113
Prepaid expenses and other assets	2,300	1,879
Total assets	1,165,099	673,924
Liabilities and Equity:
Mortgage debt	527,721	222,063
Revolving credit facility	22,500	50,000
Accounts payable and accrued expenses	20,042	12,799
Distributions and losses in excess of investments of unconsolidated real estate entities	0	1,576
Distributions payable	2,884	1,950
Total liabilities	573,147	288,388
Commitments and contingencies
Shareholders’ Equity:
Preferred shares, $0.01 par value, 100,000,000 shares authorized and unissued at December 31, 2014 and 2013	0	0
Common shares, $0.01 par value, 500,000,000 shares authorized; 34,173,691 and 26,295,558 shares issued and outstanding at December 31, 2014 and 2013, respectively	339	261
Additional paid-in capital	599,318	433,900
Accumulated deficit	(11,120)	(50,792)
Total shareholders’ equity	588,537	383,369
Noncontrolling Interests:
Noncontrolling interest in operating partnership	3,415	2,167
Total equity	591,952	385,536
Total liabilities and equity	$ 1,165,099	$ 673,924

Consolidated Balance Sheets (Parenthetical) (USD $) In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Hotel receivables, allowance for doubtful accounts	$ 71	$ 30
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred shares, shares issued
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	500,000,000	500,000,000
Common shares, shares issued (in shares)	34,173,691	26,295,558
Common shares, shares outstanding (in shares)	34,173,691	26,295,558

Consolidated Statements of Operations (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenue:
Room	$ 184,926	$ 118,169	$ 94,566
Food and beverage	2,764	1,311	253
Other	7,534	5,113	4,023
Cost reimbursements from unconsolidated real estate entities	1,992	1,635	1,622
Total revenue	197,216	126,228	100,464
Hotel operating expenses:
Room	37,516	25,709	20,957
Food and beverage expense	1,966	944	307
Telephone expense	1,304	899	718
Other hotel operating expense	2,056	1,580	1,508
General and administrative	16,265	11,529	9,320
Franchise and marketing fees	15,110	9,394	7,529
Advertising and promotions	3,676	2,782	2,257
Utilities	7,269	4,955	4,081
Repairs and maintenance	8,705	6,310	4,958
Management fees	6,096	3,752	2,872
Insurance	998	742	523
Total hotel operating expenses	100,961	68,596	55,030
Depreciation and amortization	34,710	18,249	14,273
Property taxes and insurance	12,624	8,915	7,088
General and administrative	9,852	8,131	7,565
Hotel property acquisition costs and other charges	10,381	3,341	236
Reimbursable costs from unconsolidated real estate entities	1,992	1,635	1,622
Total operating expenses	170,520	108,867	85,814
Operating income	26,696	17,361	14,650
Interest and other income	108	132	55
Interest expense, including amortization of deferred fees	(21,354)	(11,580)	(14,641)
Loss on early extinguishment of debt	(184)	(933)	0
Loss from unconsolidated real estate entities	(3,830)	(1,874)	(1,439)
Net gain from remeasurement and sale of investment in unconsolidated real estate entities	65,750	0	0
Income (loss) before income tax expense	67,186	3,106	(1,375)
Income tax expense	(105)	(124)	(75)
Net income (loss)	67,081	2,982	(1,450)
Net income attributable to non-controlling interest	(208)	0	0
Net income attributable to common shareholders	$ 66,873	$ 2,982	$ (1,450)
Income per Common Share - Basic:
Net income (loss) attributable to common shareholders (in dollars per share)	$ 2.32	$ 0.13	$ (0.12)
Income per Common Share - Diluted:
Net income (loss) attributable to common shareholders (in dollars per share)	$ 2.30	$ 0.13	$ (0.12)
Weighted average number of common shares outstanding:
Basic (in shares)	28,531,094	21,035,892	13,811,691
Diluted (in shares)	28,846,724	21,283,831	13,811,691

Consolidated Statements of Equity (USD $) In Thousands, except Share data, unless otherwise specified	Total	Common Shares	Additional Paid-In Capital	Accumulated Deficit	Total Shareholders' Equity	Noncontrolling Interest in Operating Partnership
Beginning Balance at Dec. 31, 2011	$ 217,118	$ 137	$ 239,173	$ (23,220)	$ 216,090	$ 1,028
Beginning Balance (in shares) at Dec. 31, 2011		13,819,939
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)		27,592
Issuance of shares pursuant to Equity Incentive Plan	300		300		300
Issuance of restricted time-based shares (in shares)		61,376
Amortization of share based compensation	1,663		882		882	781
Dividends declared on common shares ($0.93 per share) in 2014, ($0.84 per share) in 2013, and ($0.775 per share) in 2012	(10,821)			(10,821)	(10,821)
Distributions declared on LTIP units ($0.93 per unit) in 2014, ($0.84 per unit) in 2013, and ($0.775 per unit) in 2012	(198)					(198)
Net (loss) income	(1,450)			(1,450)	(1,450)
Ending Balance at Dec. 31, 2012	206,612	137	240,355	(35,491)	205,001	1,611
Ending Balance (in shares) at Dec. 31, 2012		13,908,907
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)		22,536
Issuance of shares pursuant to Equity Incentive Plan	337		337		337
Issuance of shares, net of offering costs of $7,153 in 2014 and $10,388 in 2013 (in shares)		12,306,000
Issuance of shares, net of offering costs of $7,153 in 2014 and $10,388 in 2013	192,363	124	192,239		192,363
Issuance of restricted time-based shares (in shares)		40,829
Issuance of performance based shares (in shares)		17,731
Repurchase of common shares (in shares)		(445)
Repurchase of common shares	(7)		(7)		(7)
Amortization of share based compensation	1,748		966		966	782
Dividends declared on common shares ($0.93 per share) in 2014, ($0.84 per share) in 2013, and ($0.775 per share) in 2012	(18,283)			(18,283)	(18,283)
Distributions declared on LTIP units ($0.93 per unit) in 2014, ($0.84 per unit) in 2013, and ($0.775 per unit) in 2012	(216)					(216)
Reallocation of noncontrolling interest	0		10		10	(10)
Net (loss) income	2,982			2,982	2,982
Ending Balance at Dec. 31, 2013	385,536	261	433,900	(50,792)	383,369	2,167
Ending Balance (in shares) at Dec. 31, 2013		26,295,558
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of shares pursuant to Equity Incentive Plan (in shares)		16,542
Issuance of shares pursuant to Equity Incentive Plan	337		337		337
Issuance of shares, net of offering costs of $7,153 in 2014 and $10,388 in 2013 (in shares)		7,782,903
Issuance of shares, net of offering costs of $7,153 in 2014 and $10,388 in 2013	164,399	78	164,321		164,399
Issuance of restricted time-based shares (in shares)		48,213
Issuance of performance based shares (in shares)		31,342
Repurchase of common shares (in shares)		(867)
Repurchase of common shares	(18)		(18)		(18)
Amortization of share based compensation	2,058		1,275		1,275	783
Dividends declared on common shares ($0.93 per share) in 2014, ($0.84 per share) in 2013, and ($0.775 per share) in 2012	(27,201)			(27,201)	(27,201)
Distributions declared on LTIP units ($0.93 per unit) in 2014, ($0.84 per unit) in 2013, and ($0.775 per unit) in 2012	(240)					(240)
Reallocation of noncontrolling interest	0		(497)		(497)	497
Net (loss) income	67,081			66,873	66,873	208
Ending Balance at Dec. 31, 2014	$ 591,952	$ 339	$ 599,318	$ (11,120)	$ 588,537	$ 3,415
Ending Balance (in shares) at Dec. 31, 2014		34,173,691

Consolidated Statements of Equity (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Issuance of shares, offering costs	$ 7,153	$ 10,388
Common shares, dividend declared per share (in dollars per share)	$ 0.93	$ 0.84
LTIP units, distributions per unit (in dollars per share)	$ 0.93	$ 0.84

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:
Net income (loss)	$ 67,081	$ 2,982	$ (1,450)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	34,579	18,162	14,198
Amortization of deferred franchise fees	131	87	75
Amortization of deferred financing fees included in interest expense	1,532	1,088	1,840
Net gain from remeasurement and sale of investment in unconsolidated real estate entities	(65,750)	0	0
Loss on early extinguishment of debt	184	933	0
Loss on write-off of deferred franchise fee	0	64	0
Share based compensation	2,471	2,085	2,003
Loss from unconsolidated real estate entities	3,830	1,874	1,439
Changes in assets and liabilities:
Hotel receivables	243	(68)	(41)
Deferred costs	(754)	(493)	(148)
Prepaid expenses and other assets	(118)	338	(428)
Accounts payable and accrued expenses	5,877	4,519	(2,603)
Net cash provided by operating activities	49,306	31,571	14,885
Cash flows from investing activities:
Improvements and additions to hotel properties	(14,931)	(16,178)	(8,590)
Acquisition of hotel properties, net of cash acquired	(404,737)	(229,646)	(27,998)
Distributions from unconsolidated entities	2,053	13,939	21,202
Investment in unconsolidated real estate entities	(27,948)	(1,649)	0
Restricted cash	(7,425)	(1,656)	2,350
Net cash used in investing activities	(452,988)	(235,190)	(13,036)
Cash flows from financing activities:
Borrowings on revolving credit facility	250,000	234,000	38,500
Repayments on revolving credit facility	(277,500)	(263,500)	(26,500)
Payments on debt	(2,631)	(2,166)	(1,694)
Proceeds from the issuance of debt	340,475	164,613	0
Principal prepayment of mortgage debt	(32,186)	(100,130)	0
Payments of financing costs	(1,585)	(2,405)	(1,452)
Payment of offering costs	(7,062)	(10,388)	(277)
Proceeds from issuance of common shares	171,552	202,751	0
In-substance repurchase of vested common shares	(18)	(7)	0
Distributions-common shares/units	(26,507)	(19,424)	(10,610)
Net cash provided by (used in) financing activities	414,538	203,344	(2,033)
Net change in cash and cash equivalents	10,856	(275)	(184)
Cash and cash equivalents, beginning of period	4,221	4,496	4,680
Cash and cash equivalents, end of period	15,077	4,221	4,496
Supplemental disclosure of cash flow information:
Cash paid for interest	18,296	10,169	12,677
Cash paid for income taxes	$ 220	$ 77	$ 135

Consolidated Statements of Cash Flows (Parenthetical) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Cash Flows [Abstract]
Accrued distributions payable	$ 2,884,000	$ 1,950,000	$ 2,875,000
Accrued but unpaid distribution	129,000	92,000	41,000
Prepaid expenses and other assets			75,000
Accrued share based compensation	413,000	337,000	337,000
Accounts payable and accrued expenses	865,000	323,000	869,000
Deferred finance costs, net	0	91,000
Loss on early extinguishment of debt	397,000
Write Off Of Deferred Debt Accumulated Amortization	$ 213,000

- Definition

Amount of asset related to consideration paid in advance for royalties that provide economic benefits within a future period of one year or the normal operating cycle, if longer.

+ References+ Details

Organization	12 Months Ended
Organization	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Chatham Lodging Trust (“we,” “us” or the “Company”) was formed as a Maryland real estate investment trust on October 26, 2009. The Company is internally-managed and was organized to invest primarily in premium-branded upscale extended-stay and select-service hotels. The Company has elected to be treated as a real estate investment trust for federal income tax purposes ("REIT"). The Company had no operations prior to the consummation of the initial public offering ("IPO") in April 2010. The net proceeds from our share offerings are contributed to Chatham Lodging, L.P., our operating partnership (the “Operating Partnership”), in exchange for partnership interests. Substantially all of the Company’s assets are held by, and all operations are conducted through, the Operating Partnership. Chatham Lodging Trust is the sole general partner of the Operating Partnership and owns 100% of the common units of limited partnership interest in the Operating Partnership. Certain of the Company’s executive officers hold vested and unvested long-term incentive plan units in the Operating Partnership, which are presented as non-controlling interests on our consolidated balance sheets. As of December 31, 2014, the Company owned 34 hotels with an aggregate of 5,115 (unaudited) rooms located in 15 states and the District of Columbia. The Company also (i) held a 10.3% noncontrolling interest in a joint venture (the “NewINK JV”) with NorthStar Realty Finance Corp ("NorthStar"), which was formed in the second quarter of 2014 and acquired 47 hotels from a joint venture (the "Innkeepers JV") between the Company and Cerberus Capital Management (“Cerberus”), comprising an aggregate of 6,094 (unaudited) rooms, (ii) held a 10.0% noncontrolling interest in a separate joint venture (the "Inland JV") with NorthStar, which was formed in the fourth quarter of 2014 acquired 48 hotels from Inland American Real Estate Trust, Inc. ("Inland"), comprising an aggregate of 6,401 (unaudited) rooms and (iii) held a 5.0% noncontrolling interest in a joint venture (the "Torrance JV") with Cerberus that owns the 248-room (unaudited) Residence Inn by Marriott in Torrance, CA. We sometimes refer to the NewINK JV, Inland JV and Torrance JV collectively as the "JVs". To qualify as a REIT, the Company cannot operate its hotels. Therefore, the Operating Partnership and its subsidiaries lease our wholly owned hotels to taxable REIT subsidiary lessees (“TRS Lessees”), which are wholly owned by one of the Company’s taxable REIT subsidiary (“TRS”) holding companies. Each hotel is leased to a TRS Lessee under a percentage lease that provides for rental payments equal to the greater of (i) a fixed base rent amount or (ii) a percentage rent based on hotel room revenue. The initial term of each of the TRS leases is 5 years. Lease revenue from each TRS Lessee is eliminated in consolidation. The Company indirectly owns its (i) 10.3% interest in 47 of the NewINK JV hotels, (ii) 10% interest in 48 of the Inland JV hotels and (iii) its 5.0% interest in the Torrance JV through the Operating Partnership. All of the NewINK JV hotels, Inland JV hotels and the Torrance JV hotel are leased to TRS Lessees, in which the Company indirectly owns noncontrolling interests through one of its TRS holding companies. The TRS Lessees have entered into management agreements with third-party management companies that provide day-to-day management for the hotels. As of December 31, 2014, Island Hospitality Management Inc. (“IHM”), which was 90% owned by Mr. Fisher, managed 32 of the Company’s wholly owned hotels and Concord Hospitality Enterprises Company managed two of the Company’s wholly owned hotels. As of December 31, 2014, all of the NewINK JV hotels were managed by IHM. As of December 31, 2014, 34 of the Inland JV hotels are managed by IHM and 14 hotels are managed by Marriott International, Inc. ("Marriott"). The Torrance JV hotel is managed by Marriott.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

The accompanying consolidated financial statements and related notes have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) and in conformity with the rules and regulations of the Securities and Exchange Commission (“SEC”). These consolidated financial statements, in the opinion of management, include all adjustments considered necessary for a fair presentation of the consolidated balance sheets, consolidated statements of operations, consolidated statements of equity, and consolidated statements of cash flows for the periods presented.

The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

Reclassifications

Certain prior period revenue and expense amounts in the consolidated financial statements have been reclassified to be comparable to the current period presentation. The reclassification did not have any impact on net income (loss).

Use of Estimates

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of and disclosures of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Fair Value of Financial Instruments

The Company’s financial instruments include cash and cash equivalents, restricted cash, hotel receivables, accounts payable and accrued expenses, distributions payable and debt. Due to their relatively short maturities, the carrying values reported in the consolidated balance sheets for these financial instruments approximate fair value except for debt, the fair value of which is separately disclosed in Note 6.

Investment in Hotel Properties

The Company allocates the purchase prices of hotel properties acquired through a business combination based on the fair value of the acquired real estate, furniture, fixtures and equipment, identifiable intangible assets and assumed liabilities. In making estimates of fair value for purposes of allocating the purchase price, the Company utilizes a number of sources of information that are obtained in connection with the acquisition of a hotel property, including valuations performed by independent third parties and information obtained about each hotel property resulting from pre-acquisition due diligence. Hotel property acquisition costs, such as transfer taxes, title insurance, environmental and property condition reviews, and legal and accounting fees are expensed in the period incurred.

The Company’s investment in hotel properties are carried at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, generally 40 years for buildings, 20 years for land improvements, 15 years for building improvements and one to ten years for furniture, fixtures and equipment. Renovations and/or replacements at the hotel properties that improve or extend the life of the assets are capitalized and depreciated over their useful lives, while repairs and maintenance are expensed as incurred. Upon the sale or retirement of property and equipment, the cost and related accumulated depreciation are removed from the Company’s accounts and any resulting gain or loss is recognized in the consolidated statements of operations.

The Company will periodically review its hotel properties for impairment whenever events or changes in circumstances indicate that the carrying value of the hotel properties may not be recoverable. Events or circumstances that may cause a review include, but are not limited to, adverse changes in the demand for lodging at the properties due to declining national or local economic conditions and/or new hotel construction in markets where the hotels are located. When such conditions exist, management will perform an analysis to determine if the estimated undiscounted future cash flows, without interest charges, from operations and the proceeds from the ultimate disposition of a hotel property exceed its carrying value. If the estimated undiscounted future cash flows are less than the carrying amount, an adjustment to reduce the carrying amount to the related hotel property's estimated fair market value is recorded and an impairment loss recognized. As of December 31, 2014, 2013 and 2012, there were no hotel properties impaired.

For properties the Company considers held for sale, depreciation and amortization are no longer recorded and the value the properties is recorded at the lower of depreciated cost or fair value, less costs to sell. If circumstances arise that were previously considered unlikely, and, as a result, the Company decides not to sell a property previously classified as held for sale, the Company will reclassify such property as held and used. Such property is measured at the lower of its carrying amount (adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used) or fair value at the date of the subsequent decision not to sell. The Company classifies properties as held for sale when all criteria within the FASB's guidance on the impairment or disposal of long-lived assets are met. As of December 31, 2014, the Company had no hotel properties held for sale.

Investment in Unconsolidated Real Estate Entities

If it is determined that the Company does not have a controlling interest in a joint venture, either through its financial interest in a variable investment entity ("VIE") or in a voting interest entity, but does have the ability to exercise significant influence the equity method of accounting is used. Under this method, the investment, originally recorded at cost, is adjusted to recognize the Company’s share of net earnings or losses of the affiliates as they occur rather than as dividends or other distributions are received, advances to and commitments for the investee.

Investment in unconsolidated real estate entities are accounted for under the equity method of accounting and the Company records its equity in earnings or losses under the hypothetical liquidation of book value (“HLBV”) method of accounting due to the structures and the preferences we receive on the distributions from our joint ventures pursuant to the respective joint venture agreements for those joint ventures. Under this method, the Company recognizes income and loss in each period based on the change in liquidation proceeds it would receive from a hypothetical liquidation of its investment based on depreciated book value. Therefore, income or loss may be allocated disproportionately as compared to the ownership percentages due to specified preferred return rate thresholds and may be more or less than actual cash distributions received and more or less than what the Company may receive in the event of an actual liquidation. In the event a basis difference is created between the carrying amount of the Company's share of partner's capital, the resulting amount is allocated based on the assets of the investee and, if assigned to depreciable or amortizable assets, then amortized as a component of income (loss) from unconsolidated real estate entities.

The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, the Company will estimate the fair value of the investment. The Company’s estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred and is other than temporary, the loss will be measured as the excess of the carrying amount over the fair value of the Company’s investment in the unconsolidated joint venture.

Cash and Cash Equivalents

Cash and cash equivalents consist of cash on hand, demand deposits with financial institutions and short term liquid investments with an original maturity of three months or less. Cash balances in individual banks may exceed federally insurable limits.

Restricted Cash

Restricted cash represents purchase price deposits held in escrow for potential hotel acquisitions under contract and escrows for reserves such as reserves for capital expenditures, property taxes or insurance that are required pursuant to the Company’s loans or hotel management agreements. Restricted cash on the accompanying consolidated balance sheet at December 31, 2014 and 2013 is $12,030 and $4,605, respectively.

Hotel Receivables

Hotel receivables consist of amounts owed by guests staying in the hotels and amounts due from business and group customers. An allowance for doubtful accounts is provided and maintained at a level believed to be adequate to absorb estimated probable losses. At December 31, 2014 and 2013, the allowance for doubtful accounts was $71 and $30, respectively.

Deferred Costs

Deferred costs consist of franchise agreement fees for the Company’s hotels, loan costs related to the Company’s senior secured revolving credit facility and mortgage loans and costs related to the Company’s share offerings or share plans.

Deferred costs consisted of the following at December 31, 2014 and 2013 (in thousands):



	December 31, 2014			December 31, 2013

Loan costs	$	10,717		$	9,529
Franchise fees	2,969			2,215
Other	—			91
	13,686			11,835
Less accumulated amortization	(6,172		)	(4,722		)
Deferred costs, net	$	7,514		$	7,113

Loan costs are recorded at cost and amortized over the term of the loan applying the effective interest rate method. Franchise fees are recorded at cost and amortized over a straight-line basis over the term of the franchise agreements. Other deferred costs relate to potential share offerings and are recorded as a reduction in additional paid-in capital as shares are sold. For the years ended December 31, 2014, 2013 and 2012, amortization expense related to franchise fees of $131, $87 and $75, respectively, is included in depreciation and amortization. Amortization expense related to loan costs of $1,532, $1,088 and $1,840 for the years ended December 31, 2014, 2013 and 2012, respectively, is included in interest expense in the consolidated statements of operations.

Prepaid Expenses and Other Assets

The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory.

Distributions and Losses in Excess of Investments in Unconsolidated Real Estate Entities

At times, certain of the Company’s investments in unconsolidated entities share of cumulative allocated losses and cash distributions received exceeds its cumulative allocated share of income and equity contributions. Although the Company typically does not make any guarantees of its investments in unconsolidated real estate entities other than certain customary non-recourse carve-out provisions, due to potential penalties along with potential upside financial returns, the Company generally intends to make any required capital contributions to maintain its ownership percentage and as such will record its share of cumulative allocated losses and cash distributions below zero. As a result, the carrying value of certain investments in unconsolidated entities is negative. Unconsolidated entities with negative carrying values are included in cash distributions and losses in excess of investments in unconsolidated entities in the Company’s Consolidated Balance Sheets.

The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, the Company will estimate the fair value of the investment. The Company’s estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount over the fair value of the Company’s investment in the unconsolidated joint venture.

Revenue Recognition

Revenue from hotel operations is recognized when rooms are occupied and when services are provided. Revenue consists of amounts derived from hotel operations, including sales from room, meeting room, gift shop, in-room movie and other ancillary amenities. Sales, use, occupancy, and similar taxes are collected and presented on a net basis (excluded from revenue) in the accompanying consolidated statements of operations.

Share-Based Compensation

The Company measures compensation expense for the restricted share awards based upon the fair market value of its common shares at the date of grant. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statement of operations. The Company pays dividends on vested and non-vested restricted shares, except for performance-based shares, for which dividends on unvested shares are not paid until those shares are vested.

Earnings Per Share

A two class method is used to determine earnings per share. Basic earnings per share ("EPS") is computed by dividing net income (loss) available for common shareholders, adjusted for dividends on unvested share grants, by the weighted average number of common shares outstanding for the period. Diluted EPS is computed by dividing net income (loss) available for common shareholders, adjusted for dividends on unvested share grants, by the weighted average number of common shares outstanding plus potentially dilutive securities such as share grants or shares issuable in the event of conversion of operating partnership units. No adjustment is made for shares that are anti-dilutive during the period. The Company’s restricted share awards and long-term incentive plan units are entitled to receive dividends, if declared. The rights to dividends declared are non-forfeitable, and therefore, the unvested restricted shares and long-term incentive plan units qualify as participating securities requiring the allocation of earnings under the two-class method to calculate EPS. The percentage of earnings allocated to the unvested restricted shares is based on the proportion of the weighted average unvested restricted shares outstanding to the total of the basic weighted average common shares outstanding and the weighted average unvested restricted shares outstanding. Basic EPS is then computed by dividing income less earnings allocable to unvested restricted shares by the basic weighted average number of shares outstanding. Diluted EPS is computed similar to basic EPS, except the weighted average number of shares outstanding is increased to include the effect of potentially dilutive securities.

Income Taxes

The Company elected to be taxed as a REIT for federal income tax purposes. In order to qualify as a REIT under the Internal Revenue Code of 1986, as amended, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to its shareholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent the Company distributes its REIT taxable income to its shareholders. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its REIT taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the IRS grants the Company relief under certain statutory provisions.

The Company leases its wholly owned hotels to TRS Lessees, which are wholly owned by the Company’s taxable REIT subsidiaries (each, a “TRS”) which, in turn are wholly owned by the Operating Partnership. Additionally, the Company indirectly owns its interest in the hotels owned by the NewINK JV (47 hotels), the Inland JV (48 hotels) and the Torrance JV through the Operating Partnership. All of the NewINK JV hotels, Inland JV hotels and the Torrance JV hotel are leased to TRS Lessees in which the Company indirectly owns noncontrolling interests through one of its TRS holding companies. Each TRS is subject to federal and state income taxes and the Company accounts for taxes, where applicable, in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification 740 using the asset and liability method which recognizes deferred tax assets and liabilities for future tax consequences arising from differences between financial statement carrying amounts and income tax bases.

As of December 31, 2014, the Company is no longer subject to U.S federal income tax examinations for years before 2012 and with few exceptions to state examinations before 2012. The Company evaluates whether a tax position of the Company is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is reduced by the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement with the relevant taxing authority. The Company has reviewed its tax positions for open tax years and has concluded no provisions for income taxes is required in the Company's consolidated financial statements as of December 31, 2014. Interest and penalties related to uncertain tax benefits, if any, in the future will be recognized as operating expense.

During the first quarter of 2015, management was notified that one of the Company's TRS' is going to be examined by the State of Florida Department of Revenue for the tax years ended December 31, 2009 through 2013. As of March 16, 2015, the examination remains open. The Company believes that it does not need to record a liability related to all matters contained in the tax periods open to examination. However, should the Company experience an unfavorable outcome in the State of Florida matter, such an outcome could have a material impact on its results of operations, financial position, and cash flows. Although the timing of the income tax audit resolutions and negotiations with taxing authorities is highly uncertain, the Company does not anticipate a significant change to the total amount of unrecognized income tax benefits within the next 12 months.

Organizational and Offering Costs

The Company expensed organizational costs as incurred. Offering costs, which include selling commissions, are recorded as a reduction in additional paid-in capital in shareholders’ equity as shares are sold. For offering costs incurred prior to potential share offerings, these costs are initially recorded in deferred costs on the balance sheet and then recorded as a reduction to addtional paid-in capital as shares are sold through the subsequent share offering. As of December 31, 2014 and 2013, the Company had $0 and $91 recorded in deferred costs related to deferred offering costs.

Segment Information

Management evaluates the Company's hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.

Recently Issued Accounting Standards

In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s operations and financial results or a business activity classified as held for sale upon acquisition should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014. Early adoption is only permitted for disposals that have not been reported in financial statements previously issued. We adopted this accounting standard update effective January 1, 2014 and the implementation of the amended guidance did not have a material impact on the Company's consolidated financial position or results of operations, but do expect these amendments to impact the Company's determination of which future property disposals qualify as discontinued operations as well as requiring additional disclosures about discontinued operations.

On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for the Company on January 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on it financial statements.

In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entities Ability to Continue as a Going Concern, which requires management to perform interim and annual assessments of an entities ability to continue within one year of the date the financial statements are issued and provides guidance on determining when and how to disclose going concern uncertainties in the financial statements. Certain disclosures will be required if conditions give rise to substantial doubt about an entity's ability to continue as a going concern. This guidance is effective for the Company on January 1, 2017 and will not have an impact on the Company's financial position, results of operations or cash flows.

In February 2015, the FASB issued ASU 2015-02 Amendments to the Consolidation Analysis, which requires amendments to both the variable interest entity and voting models. The amendments (i) rescind the indefinite deferral of certain aspects of accounting standards relating to consolidations and provide a permanent scope exception for registered money market funds and similar unregistered money market funds, (ii) modify the identification of variable interests (fees paid to a decision maker or service provider), the VIE characteristics for a limited partnership or similar entity and primary beneficiary determination under the VIE model, and (iii) eliminate the presumption within the current voting model that a general partner controls a limited partnership or similar entity. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The amendments may be applied using either a modified retrospective or full retrospective approach. The Company is currently evaluating the effect the guidance will have on its consolidated financial statements.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Acquisition of Hotel Properties

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Acquisition of Hotel Properties

Hotel Purchase Price Allocation

The allocation of the purchase price of each of the hotels acquired by the Company in 2014, based on the fair value on the date of its acquisition, was (in thousands):



	Silicon Valley Hotels			Cherry Creek Hotel			Inland 4 Pack Hotels			Total
Acquisition date	6/9/2014			8/29/2014			11/17/2014
Number of rooms (unaudited)	751			194			575			1,520
Land	$	149,565		$	3,700		$	12,923		$	166,188
Building and improvements	159,391			26,300			92,414			278,105
Furniture, fixtures and equipment	14,897			2,000			1,404			18,301
Cash	25			1			11			37
Restricted cash	—			—			—			—
Accounts receivable	959			56			374			1,389
Deferred costs, net	—			—			—			—
Prepaid expenses and other assets	289			17			56			362
Mortgage Debt	—			—			—			—
Accounts payable and accrued expenses	—			(62		)	(686		)	(748		)
Net assets acquired	$	325,126		$	32,012		$	106,496		$	463,634
Less: Fair value of interest in the Silicon Valley Hotels and NewINK JV	(58,860		)	—			—			(58,860		)
Net assets acquired, net of cash	$	266,241		$	32,011		$	106,485		$	404,737

The value of the assets acquired was primarily based on a sales comparison approach (for land) and a depreciated replacement cost approach (for building and improvements and furniture, fixtures and equipment). The sales comparison approach uses inputs of recent land sales in the respective hotel markets. The depreciated replacement cost approach uses inputs of both direct and indirect replacement costs using a nationally recognized authority on replacement cost information as well as the age, square footage and number of rooms of the respective assets. The Company incurred acquisition costs of $10,381, $3,341 and $236, respectively, during the years ended December 31, 2014, 2013 and 2012.

The amount of revenue and operating income from the hotels acquired in 2014 from their respective date of acquisition through December 31, 2014 is as follows (in thousands):




	Revenue		Operating Income

Silicon Valley hotels	$	26,814	$	16,554
Cherry Creek hotel	2,445		1,111
Inland 4 Pack hotels	2,035		692
Total	$	31,294	$	18,357

Pro Forma Financial Information (unaudited)

The following condensed pro forma financial information presents the unaudited results of operations as if the hotels acquired during the years ended December 31, 2014, 2013 or 2012 had taken place on January 1, 2013, 2012 and 2011, respectively. Since the acquisition of the Portland hotel and the Cherry Creek hotel were not material, the pro forma numbers presented below do not include the operating results of the Portland hotel or Cherry Creek hotel prior to the acquisition date. Supplemental pro forma earnings were adjusted to exclude $7,234 and $1,667, respectively, of acquisition-related costs incurred in the years ended December 31, 2014 and 2013. Supplemental pro forma earnings for the years ended December 2013 and 2012, respectively, were adjusted to include these charges from 2014 and 2013. The unaudited pro forma results have been prepared for comparative purposes only and are not necessarily indicative of what actual results of operations would have been had the acquisitions taken place on January 1, 2013, 2012 or 2011, respectively, nor do they purport to represent the results of operations for future periods (in thousands, except share and per share data).



	For the year ended
	December 31,
	2014		2013		2012
Pro forma total revenue	$	237,681	$	216,239	$	141,557
Pro forma net income (loss)	$	80,930	$	7,627	$	1,928
Pro forma income per share:
Basic	$	2.84	$	0.27	$	0.07
Diluted	$	2.81	$	0.26	$	0.07
Weighted average common shares outstanding
Basic	28,531,094		28,531,094		28,531,094
Diluted	28,846,724		28,846,724		28,846,724

As a result of the properties being treated as acquired as of January 1, 2012 and 2013, the Company assumed approximately 28,531,094 shares were issued as of January 1, 2012 to fund the acquisition of the properties. Consequently, the weighted average shares outstanding was adjusted to reflect the treatment of these assumed additional shares as issued outstanding as of the beginning of the periods presented.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Investment in Unconsolidated Entities

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Investment in Unconsolidated Entities

On April 17, 2013, the Company acquired a 5.0% interest in the Torrance JV with Cerberus for $1,649. The Torrance JV acquired the 248-room (unaudited) Residence Inn by Marriott in Torrance, CA for $31,000. The Company accounts for this investment under the equity method. During the years ended December 31, 2014 and 2013, the Company received cash distributions from the Torrance JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	100	$	40
Cash generated from debt refinancing	—		908
Total	$	100	$	948

The Company owned a 10.3% interest in a joint venture (the "Innkeepers JV") with Cerberus, which owned 51 hotels comprising an aggregate of 6,845 rooms until June 9, 2014. The Company accounted for this investment under the equity method. During the years ended December 31, 2014 and 2013, the Company received cash distributions from the Innkeepers JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	411	$	2,716
Cash generated from asset sales	—		130
Cash generated from debt refinancing	—		10,145
Total	$	411	$	12,991

On June 9, 2014, the Innkeepers JV completed the sale of 47 of the 51-hotels, owned by the Innkeepers JV to a new joint venture (the "NewINK JV") between affiliates of NorthStar Realty Finance Corp. ("NorthStar") and the Operating Partnership: NorthStar owns an 89.7% interest and the Company owns a 10.3% interest in the NewINK JV. The remaining four hotels that were part of the 51-hotel Innkeeper's JV portfolio, each of which is a Residence Inn hotel located in Silicon Valley, CA ("Silicon Valley Hotels"), were purchased by the Company (see note 3). The Company accounts for its investment in the NewINK JV under the equity method. The remeasurement gain of the Company's interest in the four Silicon Valley Hotels as a result of the step acquisition was approximately $18.8 million and the net gain from the Company's promote interest in the Innkeepers JV was approximately $47.0 million (which was credited toward the purchase of the Silicon Valley Hotels), resulting in a total gain of $65.8 million from the transaction. For tax purposes, the Company's gain resulting from this transaction was rolled tax deferred between the basis of the Company's investment in the NewINK JV and the Company's basis in the four Silicon Valley Hotels. As of December 31, 2014, the Company's share of partners' capital in the NewINK JV is approximately $19.0 million and the total difference between the carrying amount of the investment and the Company's share of partners' capital is approximately $17.3 million (for which the basis difference related to amortizing assets is being recognized over the life of the related assets as a basis difference adjustment).

During the years ended December 31, 2014 and 2013, the Company received cash distributions from the NewINK JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	1,542	$	—
Total	$	1,542	$	—

On November 17, 2014, the Company acquired a 10.0% interest in a joint venture between affiliates of NorthStar and the Operating Partnership (the "Inland JV"). NorthStar owns a 90.0% interest in the Inland JV. The Company accounts for this investment under the equity method. During the years ended December 31, 2014 and 2013, the Company did not receive any cash distributions from the Inland JV.

The Company’s ownership interests in the NewINK JV, the Inland JV and the Torrance JV (the "JVs") are subject to change in the event that either the Company, NorthStar or Cerberus calls for additional capital contributions to the respective JVs necessary for the conduct of business, including contributions to fund costs and expenses related to capital expenditures. The Company manages the JVs and will receive a promote interest in each applicable JV if it meets certain return thresholds for such JV. NorthStar and Cerberus may also approve certain actions by the JVs in which they are a partner without the Company’s consent, including certain property dispositions conducted at arm’s length, certain actions related to the restructuring of the applicable JV and removal of the Company as managing member in the event the Company fails to fulfill its material obligations under the applicable joint venture agreement.

The Company's investments in the NewInk JV, the Inland JV and the Torrance JV are $1,694, $25,676, $782, respectively, at December 31, 2014. The following tables sets forth the total assets, liabilities, equity and components of net loss, including the Company’s share, related to all JVs for the years ended December 31, 2014, 2013 and 2012 (in thousands):



Balance Sheet
	December 31, 2014		December 31, 2013			December 31, 2012
Assets
Investment in hotel properties, net	$	1,907,928	$	874,058		$	862,747
Other assets	261,311		114,034			86,149
Total Assets	$	2,169,239	$	988,092		$	948,896

Liabilities
Mortgages and notes payable	$	1,677,159	$	969,023		$	792,239
Other Liabilities	34,929		19,211			27,041
Total Liabilities	1,712,088		988,234			819,280

Equity
Chatham Lodging Trust	45,470		(802		)	13,362
Joint Venture Partner	411,681		660			116,254
Total Equity	457,151		(142		)	129,616
Total Liabilities and Equity	$	2,169,239	$	988,092		$	948,896



	For the year ended
Statement of Operations	December 31,
	2014			2013			2012
Revenue	$	290,419		$	271,224		$	251,612
Total hotel operating expenses	166,849			151,823			143,525
Operating income	$	123,570		$	119,401		$	108,087
Net loss from continuing operations	$	(40,018	)	$	(14,376	)	$	(16,093	)
Gain (loss) on sale of hotels	$	(5	)	$	(2,730	)	$	2,092
Net loss	$	(40,023	)	$	(17,106	)	$	(14,001	)

Income allocable to the Company	$	(4,165	)	$	(1,874	)	$	(1,439	)
Basis difference adjustment	$	335		$	—		$	—
Total loss from unconsolidated real estate entities attributable to Chatham	$	(3,830	)	$	(1,874	)	$	(1,439	)

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details

Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Debt

The Company’s mortgage loans and its senior secured revolving credit facility are collateralized by first-mortgage liens on certain properties. The mortgages are non-recourse except for instances of fraud or misapplication of funds. Mortgage debt consisted of the following (in thousands):



Collateral	Interest Rate		Maturity Date	12/31/14 Property Carrying Value		Balance Outstanding as of
Collateral	Interest Rate		Maturity Date	12/31/14 Property Carrying Value		December 31, 2014		December 31, 2013
Senior Secured Revolving Credit Facility (1)	2.67	%	November 5, 2016	$	177,133	$	22,500	$	50,000
SpringHill Suites by Marriott Washington, PA	5.84	%	April 1, 2015	11,509		4,760		4,937
Courtyard by Marriott Altoona, PA	5.96	%	April 1, 2016	10,553		6,172		6,378
Residence Inn by Marriott New Rochelle, NY	5.75	%	September 1, 2021	21,075		14,832		15,150
Residence Inn by Marriott San Diego, CA	4.66	%	February 6, 2023	46,947		30,062		30,546
Homewood Suites by Hilton San Antonio, TX	4.59	%	February 6, 2023	29,615		17,174		17,454
Residence Inn by Marriott Vienna, VA	4.49	%	February 6, 2023	32,918		23,534		23,925
Courtyard by Marriott Houston, TX	4.19	%	May 6, 2023	32,526		19,475		19,812
Hyatt Place Pittsburgh, PA	4.65	%	July 6, 2023	38,187		23,657		24,028
Residence Inn by Marriott Bellevue, WA	4.97	%	December 6, 2023	69,635		47,580		47,580
Residence Inn by Marriott Garden Grove, CA (2)	4.79	%	April 6, 2024	42,873		34,000		32,253
Residence Inn by Marriott Silicon Valley I, CA (3)	4.64	%	July 1, 2024	90,509		64,800		—
Residence Inn by Marriott Silicon Valley II, CA (3)	4.64	%	July 1, 2024	99,150		70,700		—
Residence Inn by Marriott San Mateo, CA (3)	4.64	%	July 1, 2024	71,022		48,600		—
Residence Inn by Marriott Mountain View, CA (3)	4.64	%	July 1, 2024	54,781		37,900		—
SpringHill Suites by Marriott Savannah, GA (4)	4.62	%	July 6, 2024	38,215		30,000		—
Homewood Suites by Hilton Billerica, MA (5)	4.32	%	December 6, 2024	12,238		16,225		—
Homewood Suite by Marriott Carlsbad, CA (5)	4.32	%	December 6, 2024	28,838		19,950		—
Hampton Inn & Suites Houston Medical Cntr., TX (6)	4.25	%	January 6, 2025	15,605		18,300		—
Total				$	923,329	$	550,221	$	272,063


(1)	Ten properties in the borrowing base serve as collateral for borrowings under the credit facility at December 31, 2014. The interest rate for the senior secured revolving credit facility is variable and based on LIBOR plus 2.5%.


(2)	On March 21, 2014, the Company refinanced the mortgage for the Residence Inn Garden Grove hotel. The new loan has a 10-year term and a 30-year amortization payment schedule but is interest only for the first 12 months. The Company incurred $184 in costs for the early extinguishment of debt related to the old loan.


(3)	On June 9, 2014, the Company obtained 4 new mortgage loans secured by a first mortgage for the Silicon Valley I, Silicon Valley II, San Mateo and Mountain View hotels, respectively. The new loans have a 10-year term and a 30-year amortization payment schedule but are interest only for the first 60 months.


(4)	On July 2, 2014, the Company obtained a new mortgage loan secured by a first mortgage for the Savannah hotel. The loan has a 10-year term and a 30-year amortization payment schedule but is interest only for the first 60 months.


(5)	On November 25, 2014, the Company obtained 2 new mortgage loans secured by a first mortgage on each of the Billerica and Carlsbad hotels. The loans have a 10-year term and a 30-year amortization payment schedule but are interest only for the first 36 months.


(6)	On December 17, 2014, the Company obtained a new mortgage loan secured by a first mortgage on the Houston Medical Center hotel. The loan has a 10-year term, a 30-year amortization payment schedule but is interest only for the first 36 months.

The Company entered into an amendment (the "Amendment") to its amended and restated senior secured revolving credit facility on December 11, 2013. The Amendment extends the maturity date to November 5, 2016 and includes the Company's option to extend the maturity date by an additional year. The senior secured revolving credit facility includes limitations on the extent of allowable distributions to the Company not to exceed the greater of 95% of Adjusted Funds from Operations (as defined in the senior secured revolving credit facility) and the minimum amount of distributions required for the Company to maintain its REIT status. Other key terms are as follows:



Facility amount		$175,000
Accordion feature		Increase additional $50,000
LIBOR floor		None
Interest rate applicable margin		200-300 basis points, based on leverage ratio
Unused fee		25 basis points if less than 50% unused, 35 basis points if more than 50% unused
Minimum fixed charge coverage ratio		1.5x

At December 31, 2014 and 2013, the Company had $22,500 and $50,000, respectively, of outstanding borrowings under its senior secured revolving credit facility. Ten properties in the borrowing base serve as collateral for borrowings under the credit facility at December 31, 2014. At December 31, 2014, the maximum borrowing availability under the revolving credit facility was $175,000.

The Company estimates the fair value of its fixed rate debt, which is all of the Company's mortgage loans by discounting the future cash flows of each instrument at estimated market rates. Rates take into consideration general market conditions, quality and estimated value of collateral and maturity of debt with similar credit terms and are classified within level 3 of the fair value hierarchy. The estimated fair value of the Company’s fixed rate debt as of December 31, 2014 and 2013 was $542.5 million and $220.0 million, respectively.

The Company estimates the fair value of its variable rate debt by taking into account general market conditions and the estimated credit terms it could obtain for debt with a similar maturity and that is classified within level 3 of the fair value hierarchy. The Company’s only variable rate debt is under its senior secured revolving credit facility. The estimated fair value of the Company’s variable rate debt as of December 31, 2014 and 2013 was $22.5 million and $50.0 million, respectively.

As of December 31, 2014, the Company was in compliance with all of its financial covenants. At December 31, 2014, the Company’s consolidated fixed charge coverage ratio was 3.15. Future scheduled principal payments of debt obligations as of December 31, 2014, for each of the next five calendar years and thereafter are as follows (in thousands):



	Amount
2015	$	8,062
2016	31,978
2017	3,971
2018	5,012
2019	7,046
Thereafter	494,152
Total	$	550,221

Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s TRSs are subject to federal and state income taxes. The Company’s TRSs are structured under two TRS holding companies, which are referred to as TRS 1 and TRS 2, which are treated separately for income tax purposes.

The components of income tax expense for the following periods are as follows (in thousands):



	For the year ended
	December 31,
	2014			2013		2012
Current:
Federal	$	82		$	93	$	55
State	27			30		19
Current tax expense	$	109		$	123	$	74

Deferred:
Federal	(3		)	—		1
State	(1		)	1		—
Deferred tax expense	(4		)	1		1
Total tax expense	$	105		$	124	$	75

The difference between income tax expense and the amount computed by applying the statutory federal income tax rate to the combined income of the Company's TRSs before taxes were as follows (in thousands):



	For the year ended
	December 31,
	2014			2013			2012
Book income (loss) before income taxes	$	(520	)	$	(2,080	)	$	159

Statutory rate of 34% applied to pre-tax income	$	(178	)	$	(707	)	$	54
Effect of state and local income taxes, net of federal tax benefit	(14		)	(82		)	20
Provision to return and deferred adjustment	40			118			—
Change in valuation allowance	257			795			1
Total expense	$	105		$	124		$	75

Effective tax rate	(20.19		)%	(5.96		)%	47.17		%

At December 31, 2014, TRS 1 had a gross deferred tax asset associated with future tax deductions of $1,297. TRS 1 has continued to record a full valuation allowance equal to 100% of the gross deferred tax asset due to the uncertainty of realizing the benefit of its deferred assets due to the cumulative taxable losses incurred by TRS 1 since its inception. TRS 2 has a gross deferred tax asset of $10 as of December 31, 2014 and no valuation allowance has been recorded in connection with the gross deferred tax assets of TRS 2 for December 31, 2014 and 2013. Accordingly, the net deferred tax asset of the Company solely relates to the deferred tax assets generated by TRS 2 during the years ended December 31, 2014 and 2013. The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2014 and 2013 are as follows (in thousands):



	For the year ended
	December 31,
	2014			2013
Deferred tax assets:
Allowance for doubtful accounts	$	28		$	11
Other	230			101
Valuation allowance	(248		)	(89		)
Current deferred tax asset	$	10		$	23
Non-current
Total book to tax difference in partnership	$	(165	)	$	(149	)
Net operating loss	1,214			1,100
Valuation allowance	(1,049		)	(951		)
Non-current deferred tax asset	$	—		$	—
Net deferred tax asset	$	10		$	23

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Dividends Declared and Paid

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Dividends Declared and Paid

The Company declared total common share dividends of $0.93 per share and distributions on long-term incentive plan ("LTIP") units of $0.93 per unit for the year ended December 31, 2014. The dividends and distributions and their tax characterization were as follows:



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Return of Capital
January	1/31/2014	2/28/2014	$	0.07	$	0.07	$	0.069	$	0.001
February	2/28/2014	3/28/2014	0.07		0.07		0.069		0.001
March	3/31/2014	4/25/2014	0.07		0.07		0.069		0.001
1st Quarter 2014			$	0.21	$	0.21	$	0.207	$	0.003

April	4/30/2014	5/30/2014	$	0.08	$	0.08	$	0.078	$	0.002
May	5/30/2014	6/27/2014	0.08		0.08		0.078		0.002
June	6/30/2014	7/25/2014	0.08		$	0.08	0.078		0.002
2nd Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

July	7/31/2014	8/29/2014	$	0.08	$	0.08	$	0.078	$	0.002
August	8/29/2014	9/26/2014	0.08		0.08		0.078		0.002
September	9/30/2014	10/31/2014	$	0.08	0.08		$	0.078	$	0.002
3rd Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

October	10/31/2014	11/28/2014	$	0.08	$	0.08	$	0.078	$	0.002
November	11/28/2014	12/26/2014	0.08		0.08		0.078		0.002
December	12/31/2014	1/30/2015	$	0.08	$	0.08	$	0.078	$	0.002
4th Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

Total 2014			$	0.93	$	0.93	$	0.909	$	0.021



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Return of Capital
January	1/31/2013	2/22/2013	$	0.07	$	0.07	$	0.06	$	0.01
February	2/28/2013	3/29/2013	0.07		0.07		0.06		0.01
March	3/28/2013	4/26/2013	0.07		0.07		0.06		0.01
1st Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

April	4/30/2013	5/31/2013	$	0.07	$	0.07	$	0.06	$	0.01
May	5/31/2013	6/28/2013	0.07		0.07		0.06		0.01
June	6/28/2013	7/26/2013	0.07		$	0.07	0.06		0.01
2nd Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

July	7/31/2013	8/30/2013	$	0.07	$	0.07	$	0.06	$	0.01
August	8/30/2013	9/27/2013	0.07		0.07		0.06		0.01
September	9/30/2013	10/25/2013	$	0.07	0.07		$	0.06	$	0.01
3rd Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

October	10/31/2013	11/29/2013	$	0.07	$	0.07	$	0.06	$	0.01
November	11/29/2013	12/27/2013	0.07		0.07		0.06		0.01
December	12/31/2013	1/31/2014	$	0.07	$	0.07	$	0.06	$	0.01
4th Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

Total 2013			$	0.84	$	0.84	$	0.72	$	0.12

For the years ended December 31, 2014 and 2013, approximately 97.7% and 85.7% of the distributions paid to stockholders were considered taxable income and approximately 2.3% and 14.3% were considered a return of capital for federal income tax purposes, respectively.

Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Shareholders' Equity

Common Shares

The Company is authorized to issue up to 500,000,000 common shares of beneficial interest, $.01 par value per share ("common shares"). Each outstanding common share entitles the holder to one vote on all matters submitted to a vote of shareholders. Holders of the Company’s common shares are entitled to receive dividends when authorized by its Board of Trustees. As of December 31, 2014, 34,173,691 common shares were outstanding.

Common share stock offerings of the Company consisted of the following from inception through December 31, 2014:



Type of Offering	Date	Shares Issued	Price per Share		Gross Proceeds (in millions)		Net Proceeds (in millions)
Initial public offering	4/21/2010	8,625,000	$	20.00	$	172.5	$	158.7
Private placement offering (1)	4/21/2010	500,000	20.00		10.0		10.0
Follow-on common share offering	2/8/2011	4,000,000	16.00		64.0		60.3
Over-allotment option	2/8/2011	600,000	16.00		9.6		9.1
Follow-on common share offering	1/14/2013	3,500,000	14.70		51.4		48.4
Over-allotment option	1/31/2013	92,677	14.70		1.4		1.3
Follow-on common share offering	6/18/2013	4,500,000	16.35		73.6		70.0
Over-allotment option	6/28/2013	475,823	16.35		7.8		7.4
Follow-on common share offering	9/30/2013	3,250,000	18.35		59.6		56.7
Over-allotment option	10/11/2013	487,500	18.35		8.9		8.5
Follow-on common share offering	9/24/2014	6,000,000	21.85		131.1		125.6
Over-allotment option	9/24/2014	900,000	21.85		19.7		18.9
		32,931,000			$	609.6	$	574.9

(1) The Company sold 500,000 common shares to Jeffrey H. Fisher, the Company’s Chairman, President and Chief Executive Officer (“Mr. Fisher”) in a private placement concurrent with its IPO.

In January 2014, we established a $25 million dividend reinvestment and stock purchase plan ("DRSPP"). Under the DRSPP, shareholders may purchase additional common shares by reinvesting some or all of the cash dividends received on the Company's common shares. Shareholders may also make optional cash purchases of the Company's common shares subject to certain limitations detailed in the prospectus for the DRSPP. As of December 31, 2014 and 2013, respectively, we had issued 2,083 and 0 shares under the DRSP at a weighted average price of $24.38. As of December 31, 2014, there was approximately $24,949 available for issuance under the DRSPP.

In January 2014, the Company established an At the Market Equity Offering ("ATM Plan") whereby, from time to time, the Company may publicly offer and sell up to $50 million of its common shares by means of ordinary brokers' transactions on the New York Stock Exchange (the "NYSE"), in negotiated transactions or in transactions that are deemed to be "at the market" offerings as defined in Rule 415 under the Securities Act, with Cantor Fitzgerald & Co. ("Cantor") acting as sales agent. As of December 31, 2014 and 2013, respectively, we had issued 880,820 and 0 shares under the ATM Plan at a weighted average price of $23.54 in addition to the offerings discussed above. As of December 31, 2014, there was approximately $29,264 available for issuance under the ATM Plan.

On January 13, 2015, the Company entered into a Sales Agreement (the “Barclays Sales Agreement”) with Barclays Capital Inc. (“Barclays”) to add Barclays as an additional sales agent under the Company’s ATM Plan.

During the years ended December 31, 2014 and 2013, the Company withheld 867 and 445, respectively, of common shares of beneficial interest that had vested to executives in accordance with the Equity Incentive Plan at a value of $20.63 and $16.31, respectively, per share to meet the minimum statutory tax withholding requirements of the executive which were directly remitted by the Company to the appropriate taxing jurisdiction. The price per share is determined by using the closing price of the common shares the day before they are withheld.

Preferred Shares

The Company is authorized to issue up to 100,000,000 preferred shares, $.01 par value per share. No preferred shares were outstanding at December 31, 2014.

Operating Partnership Units

Holders of common units in the Operating Partnership, if and when issued, will have certain redemption rights, which will enable the unit holders to cause the Operating Partnership to redeem their units in exchange for, at the Company’s option, cash per unit equal to the market price of the Company’s common shares at the time of redemption or for the Company’s common shares on a one-for-one basis. The number of shares issuable upon exercise of the redemption rights will be adjusted upon the occurrence of share splits, mergers, consolidations or similar pro-rata share transactions, which otherwise would have the effect of diluting the ownership interests of limited partners or shareholders. As of December 31, 2014 and 2013, there were no Operating Partnership common units held by unaffiliated third parties.

At December 31, 2014 and 2013, an aggregate of 257,775 LTIP units, a special class of operating partnership units, were held by executive officers. The LTIP units receive per unit distributions equal to the per share distribution paid on common shares. Upon the closing of the Company's equity offering on September 30, 2013, the Company determined that a revaluation event occurred, as defined in the Internal Revenue Code of 1986, as amended, and 26,250 LTIPS units of one of the officers of the Company achieved full parity with the common units of the Operating Partnership with respect to liquidating distributions and all other purposes. Four-fifths of these LTIP units have vested. As of June 4, 2014, the Company determined that a revaluation event occurred, as defined in the Internal Revenue Code of 1986, as amended, and 231,525 LTIP units of the other two officers of the Company achieved full parity with the common units of the Operating Partnership with respect to liquidating distributions and all other purposes. Four-fifths of these units have vested as of December 31, 2014. Accordingly, these LTIP units will be allocated their pro-rata share of the Company's net income (loss).

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

The two class method is used to determine earnings per share because unvested restricted shares and unvested LTIP units are considered to be participating shares. Unvested restricted shares and unvested long-term incentive plan units that could potentially dilute basic earnings per share in the future would not be included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented. The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per share (in thousands, except share and per share data):



	For the year ended
	December 31,
	2014			2013			2012
Numerator:
Net income (loss)	$	66,873		$	2,982		$	(1,450	)
Dividends paid on unvested shares and units	(216		)	(294		)	(272		)
Undistributed earnings allocated to unvested shares and units	$	(324	)	$	—		$	—
Net income (loss) attributable to common shareholders	$	66,333		$	2,688		$	(1,722	)
Denominator:
Weighted average number of common shares - basic	28,531,094			21,035,892			13,811,691
Effect of dilutive securities:
Unvested shares	315,630			247,939			—
Weighted average number of common shares - diluted	28,846,724			21,283,831			13,811,691
Basic income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share	$	2.32		$	0.13		$	(0.12	)
Diluted income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share	$	2.30		$	0.13		$	(0.12	)

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Equity Incentive Plan

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity Incentive Plan

The Company maintains its Equity Incentive Plan to attract and retain independent trustees, executive officers and other key employees and service providers. The Equity Incentive Plan provides for the grant of options to purchase common shares, share awards, share appreciation rights, performance units and other equity-based awards. The Equity Incentive Plan was amended and restated as of May 17, 2013 to increase the maximum number of shares available under the Equity Incentive Plan to 3,000,000 shares. Share awards under this plan generally vest over three to five years, though compensation for the Company’s independent trustees includes shares granted that vest immediately. The Company pays dividends on unvested shares and units, except for performance-based shares, for which dividends on unvested performance-based shares are not paid until those shares are vested. Certain awards may provide for accelerated vesting if there is a change in control. As of December 31, 2014, there were 2,296,458 common shares available for issuance under the Equity Incentive Plan.

Restricted Share Awards

A summary of the shares granted to executive officers that have not fully vested pursuant to the Equity Incentive Plan as of December 31, 2014 are:



Award Type	Award Date	Total Shares Granted	Vested as of December 31, 2014
2012 Time-based Awards	2/23/2012	61,376	40,918
2012 Performance-based Awards	2/23/2012	53,191	35,462
2013 Time-based Awards	1/29/2013	40,829	13,611
2013 Performance-based Awards	5/17/2013	40,829	13,611
2014 Time-based Awards	1/31/2014	48,213	—
2014 Performance-based Awards	1/31/2014	38,805	—

Time-based shares will vest over a three-year period. The performance-based shares will be issued and vest over a three-year period only if and to the extent that long-term performance criteria established by the Board of Trustees are met and the recipient remains employed by the Company through the vesting date.

The Company measures compensation expense for time-based vesting restricted share awards based upon the fair market value of its common shares at the date of grant. For the performance-based shares granted in 2012, 2013 and 2014, compensation expense is based on a valuation of $10.20, $10.93 and $13.17, respectively, per performance share granted, which takes into account that some or all of the awards may not vest if long-term performance criteria are not met during the vesting period. Compensation expense is recognized on a straight-line basis over the vesting period and is included in general and administrative expense in the accompanying consolidated statements of operations. The Company pays dividends on non-vested time-based restricted shares. Dividends for performance-based shares are accrued and paid annually only if and to the extent that long-term performance criteria established by the Board of Trustees are met and the recipient remains employed by the Company on the vesting date.

A summary of the Company’s restricted share awards for the years ended December 31, 2014, 2013 and 2012 is as follows:



	December 31, 2014				December 31, 2013				December 31, 2012
	Number of Shares		Weighted - Average Grant Date Fair Value		Number of Shares		Weighted - Average Grant Date Fair Value		Number of Shares		Weighted - Average Grant Date Fair Value
Non-vested at beginning of the period	158,035		$	12.39	140,077		$	12.70	51,029		$	19.04
Granted	87,018		17.46		81,658		13.43		114,567		11.28
Vested	(65,412	)	12.17		(63,700	)	14.39		(25,519	)	19.04
Non-vested at end of the period	179,641		$	14.92	158,035		$	12.39	140,077		$	12.70

As of December 31, 2014 and 2013, there were $1,458 and $1,214, respectively, of unrecognized compensation costs related to restricted share awards. As of December 31, 2014, these costs were expected to be recognized over a weighted–average period of approximately 1.9 years. For the years ended December 31, 2014, 2013 and 2012, the Company recognized approximately $1,275, $966 and $883 respectively of expense related to the restricted share awards. This expense is included in general and administrative expenses in the accompanying consolidated statements of operations.

Long-Term Incentive Plan Units

LTIP units are a special class of partnership interests in the Operating Partnership which may be issued to eligible participants for the performance of services to or for the benefit of the Company. Under the Equity Incentive Plan, each LTIP unit issued is deemed equivalent to an award of one common share thereby reducing the availability for other equity awards on a one-for-one basis. The Company does not receive a tax deduction for the value of any LTIP units granted to employees. LTIP units, whether vested or not, receive the same per unit profit distributions as other outstanding units of the Operating Partnership, which profit distribution will generally equal per share dividends on the Company’s common shares. Initially, LTIP units have a capital account balance of zero, and do not have full parity with common Operating Partnership units with respect to liquidating distributions. The Operating Partnership will revalue its assets upon the occurrence of certain specified events and any increase in valuation will be allocated first to the holders of LTIP units to equalize the capital accounts of such holders with the capital accounts of the Operating Partnership unit holders. If such parity is reached, vested LTIP units may be converted by the holder, at any time, into an equal number of common units of limited partnership interest in the Operating Partnership (“Common Units”), which may be redeemed, at the option of the holder, for cash or at the Company’s option an equivalent number of the Company’s common shares.

On April 21, 2010, the Company’s Operating Partnership granted 246,960 LTIP units to the Company’s executive officers pursuant to the Equity Incentive Plan, all of which are accounted for in accordance with FASB Codification Topic (“ASC”) 718, “Stock Compensation”. On September 9, 2010, the Company’s Operating Partnership granted 26,250 LTIP units to the Company’s then new Chief Financial Officer and 15,435 LTIP units granted to the Company’s former Chief Financial Officer were forfeited. These LTIP units vest ratably over a five years period beginning on the date of grant.

The LTIP units’ fair value was determined by using a discounted value approach. In determining the discounted value of the LTIP Units, the Company considered the inherent uncertainty that the LTIP units would never reach parity with the other Common Units and thus have an economic value of zero to the grantee. Additional factors considered in reaching the assumptions of uncertainty included discounts for illiquidity; expectations for future dividends; limited or no operating history as of the date of the grant; significant dependency on the efforts and services of our executive officers and other key members of management to implement the Company's business plan; available acquisition opportunities; and economic environment and conditions. The Company used an expected stabilized dividend yield of 5.0% and a risk free interest rate of 2.33% based on a five-year U.S. Treasury yield.

The Company recorded $783, $783 and $783 in compensation expense related to the LTIP units for years ended December 31, 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, there was $267 and $1,049, respectively, of total unrecognized compensation cost related to LTIP units. This cost is expected to be recognized over approximately 0.4 years, which represents the weighted average remaining vesting period of the LTIP units. Upon the closing of the Company's equity offering on September 30, 2013, the Company determined that a revaluation event occurred, as defined in the Internal Revenue Code of 1986, as amended, and 26,250 LTIP units of one of the officers of the Company achieved full parity with the common units of the Operating Partnership with respect to liquidating distributions and all other purposes. Four-fifths of these units have vested as of December 31, 2014. As of June 4, 2014, the Company determined that a revaluation event occurred, as defined in the Internal Revenue Code of 1986, as amended, and 231,525 LTIP units of the other two officers of the Company achieve full parity with the common units of the Operating Partnership with respect to liquidating distributions and all other purposes. Four-fifths of these units have vested as of December 31, 2014. Accordingly, these LTIP units were allocated their pro-rata share of the Company's net income.

Board of Trustee Share Compensation

For 2014, 2013 and 2012, each independent trustee was compensated $75 for their services. Each trustee may elect to receive up to 100% of their compensation in the form of shares, but must receive at least 50% in the form of shares. In January 2014, 2013 and 2012, the Company issued 16,542, 22,536 and 27,592 common shares, respectively, to its independent trustees as compensation for services performed in 2013, 2012 and 2011, respectively. The quantity of shares was calculated based on the average of the closing price for the Company’s common shares on the NYSE for the last ten trading days preceding the reporting date. On January 15, 2015, the Company distributed 14,113 common shares to its independent trustees for services performed in 2014.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Litigation

The nature of the operations of the hotels exposes the hotels, the Company and the Operating Partnership to the risk of claims and litigation in the normal course of their business. An affiliate of the Company is currently a defendant, along with IHM, in a class action lawsuit pending in the San Diego County Superior Court. The class actions were filed on April 25, 2012 and February 27, 2013, and have subsequently been consolidated on November 8, 2013 under the title Martinez et al v. Island Hospitality Management, Inc., et al. Case No. 37-2012-00096221-CU-OE-CTL. The class actions relate to fifteen hotels operated by IHM in the state of CA and owned by affiliates of the Company, NewINK JV, INK JV, and/or certain third parties. Both complaints in the now consolidated lawsuit allege various wage and hour law violations including unpaid off-the-clock work, failure to provide meal breaks and failure to provide rest breaks. The plaintiffs seek injunctive relief, money damages, penalties, and interest. We are defending our case vigorously. As of December 31, 2014, included in accounts payable and expenses is $287, which represents an estimate of our exposure to the litigation and is also estimated as the maximum possible loss that the Company may incur.

Hotel Ground Rent

The Altoona hotel is subject to a ground lease with an expiration date of April 30, 2029 with an extension option by the Company of up to 12 additional terms of five years each. Monthly payments are determined by the quarterly average room occupancy of the hotel. Rent is equal to approximately $7,500 per month when monthly occupancy is less than 85% and can increase up to approximately $20,000 per month if occupancy is 100%, with minimum rent increased on an annual basis by two and one-half percent (2.5%).

At the New Rochelle Residence Inn, there is an air rights lease and garage lease that each expires on December 1, 2104. The lease agreements with the City of New Rochelle cover the space above the parking garage that is occupied by the hotel as well as 128 parking spaces in a parking garage that is attached to the hotel. The annual base rent for the garage lease is the hotel’s proportionate share of the city’s adopted budget for the operations, management and maintenance of the garage and established reserves to fund the cost of capital repairs. Rent for 2014 is equal to approximately $116.

Future minimum rental payments under the terms of all non-cancellable operating ground leases under which the Company is the lessee are expensed on a straight-line basis regardless of when payments are due. The following is a schedule of the minimum future obligation payments required under the ground, air rights and garage leases as of December 31, 2014, and for each of the next five calendar years and thereafter (in thousands):



	Amount
2015	$	210
2016	212
2017	214
2018	217
2019	219
Thereafter	11,009
Total	$	12,081

Management Agreements

The management agreements with Concord have an initial ten-year term that expire on February 28, 2017 and will renew automatically for successive one-year terms unless terminated by the TRS lessee or the manager by written notice to the other party no later than 90 days prior to the then current term’s expiration date. The management agreements may be terminated for cause, including the failure of the managed hotel operating performance to meet specified levels. If the Company were to terminate the management agreements during the first nine years of the initial term other than for breach or default by the manager, the Company would be responsible for paying termination fees to the manager.

The management agreements with IHM have an initial term of five years and may be renewed for two five-year periods at IHM’s option. The IHM management agreements provide for early termination at the Company’s option upon sale of any IHM-managed hotel for no termination fee, with six months advance notice. The IHM management agreements may be terminated for cause, including the failure of the managed hotel to meet specified performance levels.

As of December 31, 2014, Terms of the Company's management agreements are:



Property	Management Company	Base Management Fee		Monthly Accounting Fee	Monthly Revenue Management Fee	Incentive Management Fee
Courtyard Altoona	Concord	4.0	%	1,211	—	—	%
Springhill Suites Washington	Concord	4.0	%	991	—	—	%
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Minneapolis-Mall of America	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Nashville-Brentwood	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Dallas-Market Center	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Hartford-Farmington	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Orlando-Maitland	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Carlsbad (North San Diego County)	IHM	3.0	%	1,000	—	1.0	%
Hampton Inn & Suites Houston-Medical Center	IHM	3.0	%	1,000	—	1.0	%
Residence Inn Long Island Holtsville	IHM	3.0	%	1,000	—	1.0	%
Residence Inn White Plains	IHM	3.0	%	1,000	—	1.0	%
Residence Inn New Rochelle	IHM	3.0	%	1,000	—	1.0	%
Residence Inn Garden Grove	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Mission Valley	IHM	2.5	%	1,000	—	1.0	%
Homewood Suites by Hilton San Antonio River Walk	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Washington DC	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Tysons Corner	IHM	2.5	%	1,000	—	1.0	%
Hampton Inn Portland Downtown	IHM	3.0	%	1,000	550	1.0	%
Courtyard Houston	IHM	3.0	%	1,000	550	1.0	%
Hyatt Place Pittsburgh North Shore	IHM	3.0	%	1,500	1,000	1.0	%
Hampton Inn Exeter	IHM	3.0	%	1,200	1,000	1.0	%
Hilton Garden Inn Denver Tech	IHM	3.0	%	1,500	1,000	1.0	%
Residence Inn Bellevue	IHM	3.0	%	1,200	1,000	1.0	%
Springhill Suites Savannah	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Silicon Valley I	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Silicon Valley II	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn San Mateo	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Mountain View	IHM	3.0	%	1,200	1,000	1.0	%
Hyatt Place Cherry Creek	IHM	3.0	%	1,500	1,000	1.0	%
Courtyard Addison	IHM	3.0	%	1,500	1,000	1.0	%
Courtyard West University Houston	IHM	3.0	%	1,500	1,000	1.0	%
Residence Inn West University Houston	IHM	3.0	%	1,200	1,000	1.0	%
Hilton Garden Inn Burlington	IHM	3.0	%	1,500	1,000	1.0	%

Base management fees are calculated as a percentage of the hotel's gross revenue. If certain financial thresholds are met or exceeded, an incentive management fee is calculated as 10% of the hotel's net operating income less fixed costs, base management fees and a specified return threshold. The incentive management fee is capped at 1% of gross hotel revenues for the applicable calculation.

Management fees totaled approximately $6,096, $3,752 and $2,872, respectively, for the years ended December 31, 2014, 2013 and 2012. Incentive management fees paid to IHM for the years ended years ended December 31, 2014, 2013 and 2012 were $161, $63 and $16, respectively. There have been no incentive management fees paid to Concord.

Franchise Agreements

The Company’s TRS Lessees have entered into hotel franchise agreements with Promus Hotels, Inc., a subsidiary of Hilton, Hampton Inns Franchise, LLC, Marriott International, Inc., Hyatt Hotels, LLC and Hilton Garden Inns Franchise, LLC.

Terms of the Company's Franchise agreements are as of December 31, 2014:



Property	Franchise/Royalty Fee		Marketing/Program Fee		Expiration
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington	4.0	%	4.0	%	2025
Homewood Suites by Hilton Minneapolis-Mall of America	4.0	%	4.0	%	2025
Homewood Suites by Hilton Nashville-Brentwood	4.0	%	4.0	%	2025
Homewood Suites by Hilton Dallas-Market Center	4.0	%	4.0	%	2025
Homewood Suites by Hilton Hartford-Farmington	4.0	%	4.0	%	2025
Homewood Suites by Hilton Orlando-Maitland	4.0	%	4.0	%	2025
Homewood Suites by Hilton Carlsbad (North San Diego County)	4.0	%	4.0	%	2028
Hampton Inn & Suites Houston-Medical Center	5.0	%	4.0	%	2020
Courtyard Altoona	5.5	%	2.0	%	2030
Springhill Suites Washington	5.0	%	2.5	%	2030
Residence Inn Long Island Holtsville	5.5	%	2.5	%	2025
Residence Inn White Plains	5.5	%	2.5	%	2030
Residence Inn New Rochelle	5.5	%	2.5	%	2030
Residence Inn Garden Grove	5.0	%	2.5	%	2031
Residence Inn Mission Valley	5.0	%	2.5	%	2031
Homewood Suites by Hilton San Antonio River Walk	4.0	%	4.0	%	2026
Residence Inn Washington DC	5.5	%	2.5	%	2033
Residence Inn Tysons Corner	5.0	%	2.5	%	2031
Hampton Inn Portland Downtown	6.0	%	4.0	%	2032
Courtyard Houston	5.5	%	2.0	%	2030
Hyatt Place Pittsburgh North Shore	5.0	%	3.5	%	2030
Hampton Inn Exeter	6.0	%	4.0	%	2031
Hilton Garden Inn Denver Tech	4.3	%	5.5	%	2028
Residence Inn Bellevue	5.5	%	2.5	%	2033
Springhill Suites Savannah	5.0	%	2.5	%	2033
Residence Inn Silicon Valley I	5.5	%	2.5	%	2029
Residence Inn Silicon Valley II	5.5	%	2.5	%	2029
Residence Inn San Mateo	5.5	%	2.5	%	2029
Residence Inn Mountain View	5.5	%	2.5	%	2029
Hyatt Place Cherry Creek	3-5.0%		3.5	%	2034
Courtyard Addison	5.5	%	2.0	%	2029
Courtyard West University Houston	5.5	%	2.0	%	2029
Residence Inn West University Houston	6.0	%	2.0	%	2024
Hilton Garden Inn Burlington	5.5	%	4.3	%	2029

Franchise fees totaled approximately $15,110, $9,394 and $7,529 , respectively, for the years ended December 31, 2014, 2013 and 2012.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Mr. Fisher owns 90% of IHM. As of December 31, 2014, the Company had hotel management agreements with IHM to manage 32 of its wholly owned hotels. As of December 31, 2014, all 47 hotels owned by the NewINK JV were managed by IHM. As of December 31, 2014, 34 of the 48 hotels owned by the Inland JV were managed by IHM. Hotel management, revenue management and accounting fees paid to IHM by the Company for the years ended December 31, 2014, 2013 and 2012 were $5.8 million, $3.4 million and $2.3 million, respectively. At December 31, 2014 and 2013, the amounts due to IHM were $0.6 million and $0.5 million, respectively. Incentive management fees paid to IHM by the Company for the years ended December 31, 2014, 2013 and 2012 were $161, $63 thousand and $16 thousand, respectively. Cost reimbursements from unconsolidated real estate entities revenue represents reimbursements of costs incurred on behalf of the Innkeepers, NewINK, Inland JVs and an entity which is 2.5% owned by Mr. Fisher. These costs relate primarily to corporate payroll costs at the Innkeepers, NewINK and Inland JVs where the Company is the employer. As the Company records cost reimbursements based upon costs incurred with no added markup, the revenue and related expense has no impact on the Company’s operating income or net income. Cost reimbursements from the Innkeepers JV are recorded based upon the occurrence of a reimbursed activity. During 2014, Mr. Fisher entered into joint venture agreement with NorthStar by which Mr. Fisher acquired a 2.5% non-voting interest in Castleblack Owner Holding, LLC ("Castleblack").

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References+ Details

Quarterly Operating Results (unaudited)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Operating Results (unaudited)



	Quarter Ended - 2014
	March 31			June 30		September 30		December 31
	(in thousands, except share and per share data)

Total revenue	$	36,866		$	47,077	$	60,662	$	52,610
Total operating expenses	34,370			42,076		45,979		48,095
Operating income	2,496			5,001		14,683		4,516
Net income (loss) attributable to common shareholders	(1,808		)	65,137		8,664		(5,660		)
Income (loss) per common share, basic (1)	(0.07		)	2.46		0.32		(0.16		)
Income (loss) per common share, diluted (1)	(0.07		)	2.44		0.31		(0.16		)

Weighted average number of common shares outstanding:
Basic	26,271,678			26,437,878		27,370,815		33,972,134
Diluted	26,271,678			26,734,919		27,695,347		33,972,134


	Quarter Ended - 2013
	March 31			June 30		September 30		December 31
	(in thousands, except share and per share data)

Total revenue	$	25,779		$	30,746	$	35,370	$	34,333
Total operating expenses	22,997			25,730		29,359		30,781
Operating income	2,782			5,016		6,011		3,552
Net income (loss) attributable to common shareholders	(1,696		)	2,103		2,469		(188		)
Income (loss) per common share, basic and diluted (1)	(0.1		)	0.12		0.11		(0.01		)

Weighted average number of common shares outstanding:
Basic	17,212,124			18,147,108		22,508,988		26,160,823
Diluted	17,212,124			18,383,626		22,769,282		26,160,823

(1) The sum of per share amounts for the four quarters may differ from the annual per share amounts due to the required method of computing weighted-average number of common shares outstanding in the respective periods and share offerings that occurred during the year. Unvested restricted shares and unvested long-term incentive plan units could potentially dilute basic earnings per share in the future were not included in the computation of diluted loss per share, for the periods where a loss has been recorded, because they would have been anti-dilutive for the periods presented.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 21, 2015, the Company entered into a purchase and sale agreement to acquire an upscale extended-stay hotel located in San Diego, California for an aggregate purchase price of approximately $90,000 (the "San Diego Acquisition"). The hotel's operations include two third-party retail restaurants and a parking garage that earns revenue from sources outside of the hotel. The hotel is subject to a ground lease. The transaction closed on February 26, 2015. The Company funded the purchase price with available cash. The hotel will be managed by IHM for a base management fee of 3.0% of the hotel's gross room revenue plus standard revenue management fee and accounting fee. On January 27, 2015, the Company completed a follow-on common share offering that resulted in the sale of 4,025,000 common shares (including 525,000 common shares sold pursuant to the exercise of the underwriters, option to purchase additional shares) at $30.00 per share, resulting in net proceeds of $119.0 million to the Company after deducting underwriters' discounts and commissions and other offering expenses.

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2014

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

CHATHAM LODGING TRUST

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2014

(in thousands)



			Initial Cost								Gross Amount at End of Year
Description	Year of Acquisition	Encumbrances	Land		Buildings & Improvements		Cost Cap. Sub. To Acq. Land		Cost Cap. Sub. To Acq. Bldg & Improvements		Land		Buildings & Improvements		Total		Bldg & Improvements		Accumulated Depreciation		Year of Original Construction	Depreciation Life

Homewood Suites Orlando - Maitland, FL	2010	(1)	$	1,800	$	7,200	$	34	$	1,418	$	1,834	$	8,618	$	10,452	$	8,618	$	1,125	2000	(2)
Homewood Suites Boston - Billerica, MA	2010	16,225	1,470		10,555		48		1,022		1,518		11,577		13,095		11,577		1,571		1999	(2)
Homewood Suites Minneapolis - Mall of America, Bloomington, MN	2010	(1)	3,500		13,960		19		1,314		3,519		15,274		18,793		15,274		1,988		1998	(2)
Homewood Suites Nashville - Brentwood, TN	2010	(1)	1,525		9,300		12		1,204		1,537		10,504		12,041		10,504		1,399		1998	(2)
Homewood Suites Dallas - Market Center, Dallas, TX	2010	(1)	2,500		7,583		17		1,003		2,517		8,586		11,103		8,586		1,214		1998	(2)
Homewood Suites Hartford - Farmington, CT	2010	(1)	1,325		9,375		92		1,274		1,417		10,649		12,066		10,649		1,433		1999	(2)
Hampton Inn & Suites Houston - Houston, TX	2010	18,300	3,200		12,709		56		656		3,256		13,365		16,621		13,365		1,562		1997	(2)
Residence Inn Holtsville - Holtsville, NY	2010	(1)	2,200		18,765		—		923		2,200		19,688		21,888		19,688		2,275		2004	(2)
Courtyard Altoona - Altoona, PA	2010	6,172	—		10,730		—		894		—		11,624		11,624		11,624		1,372		2001	(2)
SpringHill Suites Washington - Washington, PA	2010	4,760	1,000		10,692		—		842		1,000		11,534		12,534		11,534		1,354		2000	(2)
Residence Inn White Plains - White Plains, NY	2010	(1)	2,200		17,677		—		4,399		2,200		22,076		24,276		22,076		2,202		1982	(2)
Residence Inn New Rochelle - New Rochelle, NY	2010	14,832	—		20,281		9		2,377		9		22,658		22,667		22,658		2,607		2000	(2)
Homewood Suites Carlsbad - Carlsbad, CA	2010	19,950	3,900		27,520		—		92		3,900		27,612		31,512		27,612		2,883		2008	(2)
Residence Inn Garden Grove - Garden Grove, CA	2011	34,000	7,109		35,484		—		1,075		7,109		36,559		43,668		36,559		3,260		2003	(2)
Residence Inn Mission Valley - San Diego, CA	2011	30,062	9,856		39,535		—		318		9,856		39,853		49,709		39,853		3,468		2003	(2)
Homewood Suites San Antonio - San Antonio, TX	2011	17,174	5,999		24,764		2		501		6,001		25,265		31,266		25,265		2,222		1996	(2)
Doubletree Suites Washington DC - Washington, DC	2011	(1)	6,083		22,063		28		4,637		6,111		26,700		32,811		26,700		2,306		1974	(2)
Residence Inn Tyson's Corner - Vienna, VA	2011	23,534	5,752		28,917		—		127		5,752		29,044		34,796		29,044		2,522		2001	(2)
Hampton Inn Portland Downtown - Portland, ME	2012	(1)	4,315		22,664		—		3		4,315		22,667		26,982		22,667		1,141		2011	(2)
Courtyard Houston - Houston, TX	2013	19,475	5,600		27,350		—		99		5,600		27,449		33,049		27,449		1,304		2010	(2)
Hyatt Place Pittsburgh - Pittsburgh, PA	2013	23,657	3,000		35,576		—		113		3,000		35,689		38,689		35,689		1,380		2011	(2)
Hampton Inn & Suites Exeter - Exeter, NH	2013	(1)	1,900		12,350		4		4		1,904		12,354		14,258		12,354		431		2010	(2)
Hilton Garden Inn Denver Tech - Denver, CO	2013	none	4,100		23,100		5		351		4,105		23,451		27,556		23,451		741		1999	(2)
Residence Inn Bellevue - Bellevue, WA	2013	47,580	13,800		56,957		—		232		13,800		57,189		70,989		57,189		1,668		2008	(2)
SpringHill Suites Savannah - Savannah, GA	2013	30,000	2,400		36,050		—		123		2,400		36,173		38,573		36,173		970		2009	(2)
Residence Inn Silicon Valley I - Sunnyvale, CA	2014	64,800	42,652		45,846		—		67		42,652		45,913		88,565		45,913		1,726		1983	(2)
Residence Inn Silicon Valley II - Sunnyvale, CA	2014	70,700	46,474		50,380		—		51		46,474		50,431		96,905		50,431		1,896		1985	(2)
Residence Inn San Mateo - San Mateo, CA	2014	48,600	38,420		31,352		—		89		38,420		31,441		69,861		31,441		1,182		1985	(2)
Residence Inn Mt. View - Mountain View, CA	2014	37,900	22,019		31,813		—		32		22,019		31,845		53,864		31,845		1,198		1985	(2)
Hyatt Place Cherry Creek - Cherry Creek, CO	2014	none	3,700		26,300		—		14		3,700		26,314		30,014		26,314		225		1987	(2)
Courtyard Addison - Dallas, TX	2014	none	2,413		21,554		—		—		2,413		21,554		23,967		21,554		66		2000	(2)
Courtyard West University - Houston, TX	2014	none	2,012		17,916		—		—		2,012		17,916		19,928		17,916		56		2004	(2)
Residence Inn West University - Houston, TX	2014	none	3,640		25,631		—		—		3,640		25,631		29,271		25,631		79		2004	(2)
Hilton Garden Inn Burlington - Burlington, MA	2014	none	4,918		27,193		—		—		4,918		27,193		32,111		27,193		84		1975	(2)
Grand Total(s)			$	260,782	$	819,142	$	326	$	25,254	$	261,108	$	844,396	$	1,105,504	$	844,396	$	50,910

(1) This property is pledged as collateral to borrowings made under the revolving credit facility obtained on October 12, 2010, which had outstanding borrowings of $22,500 as of December 31, 2014.

(2) Depreciation is computed based upon the following estimated useful lives:

Years

Building

Land improvements

Building improvements

5-20



Notes:

(a) The change in total cost of real estate assets for the year ended is as follows:
	2014		2013		2012			2011		2010
Balance at the beginning of the year	$	654,560	$	423,729	$	392,463		$	200,974	—
Acquisitions	444,233		222,273		26,979			185,995		200,967
Dispositions during the year	—		—		(951		)	—		—
Capital expenditures and transfers from construction-in-progress	6,711		8,558		5,238			5,494		7
Investment in Real Estate	$	1,105,504	$	654,560	$	423,729		$	392,463	$	200,974



(b) The change in accumulated depreciation and amortization of real estate assets for the year ended is as follows:

Balance at the beginning of the year	$	28,980	$	17,398	$	8,394	$	1,901	—
Depreciation and amortization	21,930		11,582		9,004		6,493		1,901
Balance at the end of the year	$	50,910	$	28,980	$	17,398	$	8,394	$	1,901

(c) The aggregate cost of properties for federal income tax purposes (in thousands) is approximately $1,096,425 as of December 31, 2014.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Basis of Presentation

The consolidated financial statements include all of the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions are eliminated in consolidation.

Reclassifications

Use of Estimates

Fair Value of Financial Instruments

Investment in Hotel Properties

Investment in Unconsolidated Real Estate Entities

Cash and Cash Equivalents

Restricted Cash

Hotel Receivables

Deferred Costs

Deferred costs consisted of the following at December 31, 2014 and 2013 (in thousands):



	December 31, 2014			December 31, 2013

Loan costs	$	10,717		$	9,529
Franchise fees	2,969			2,215
Other	—			91
	13,686			11,835
Less accumulated amortization	(6,172		)	(4,722		)
Deferred costs, net	$	7,514		$	7,113

Prepaid Expenses And Other Policy

Prepaid Expenses and Other Assets

The Company’s prepaid expenses and other assets consist of prepaid insurance, prepaid property taxes, deposits and hotel supplies inventory.

Distributions and losses in Excess of Investments in Unconsolidated Real Estate Entities

Distributions and Losses in Excess of Investments in Unconsolidated Real Estate Entities

The Company periodically reviews the carrying value of its investment in unconsolidated joint ventures to determine if circumstances indicate impairment to the carrying value of the investment that is other than temporary. When an impairment indicator is present, the Company will estimate the fair value of the investment. The Company’s estimate of fair value takes into consideration factors such as expected future operating income, trends and prospects, as well as other factors. This determination requires significant estimates by management, including the expected cash flows to be generated by the assets owned and operated by the joint venture. To the extent impairment has occurred, the loss will be measured as the excess of the carrying amount over the fair value of the Company’s investment in the unconsolidated joint venture.

Revenue Recognition

Share-Based Compensation

Earnings Per Share

Income Taxes

Organizational and Offering Costs

Segment Information

Management evaluates the Company's hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.

Recently Issued Accounting Standards

Acquisition of Hotel Properties (Tables)

12 Months Ended

Dec. 31, 2014

Business Combinations [Abstract]

Purchase Price Allocation

The allocation of the purchase price of each of the hotels acquired by the Company in 2014, based on the fair value on the date of its acquisition, was (in thousands):



	Silicon Valley Hotels			Cherry Creek Hotel			Inland 4 Pack Hotels			Total
Acquisition date	6/9/2014			8/29/2014			11/17/2014
Number of rooms (unaudited)	751			194			575			1,520
Land	$	149,565		$	3,700		$	12,923		$	166,188
Building and improvements	159,391			26,300			92,414			278,105
Furniture, fixtures and equipment	14,897			2,000			1,404			18,301
Cash	25			1			11			37
Restricted cash	—			—			—			—
Accounts receivable	959			56			374			1,389
Deferred costs, net	—			—			—			—
Prepaid expenses and other assets	289			17			56			362
Mortgage Debt	—			—			—			—
Accounts payable and accrued expenses	—			(62		)	(686		)	(748		)
Net assets acquired	$	325,126		$	32,012		$	106,496		$	463,634
Less: Fair value of interest in the Silicon Valley Hotels and NewINK JV	(58,860		)	—			—			(58,860		)
Net assets acquired, net of cash	$	266,241		$	32,011		$	106,485		$	404,737

Revenue and Operating Income of New Hotels Acquired

The amount of revenue and operating income from the hotels acquired in 2014 from their respective date of acquisition through December 31, 2014 is as follows (in thousands):




	Revenue		Operating Income

Silicon Valley hotels	$	26,814	$	16,554
Cherry Creek hotel	2,445		1,111
Inland 4 Pack hotels	2,035		692
Total	$	31,294	$	18,357

Pro Forma Financial Information



	For the year ended
	December 31,
	2014		2013		2012
Pro forma total revenue	$	237,681	$	216,239	$	141,557
Pro forma net income (loss)	$	80,930	$	7,627	$	1,928
Pro forma income per share:
Basic	$	2.84	$	0.27	$	0.07
Diluted	$	2.81	$	0.26	$	0.07
Weighted average common shares outstanding
Basic	28,531,094		28,531,094		28,531,094
Diluted	28,846,724		28,846,724		28,846,724

Investment in Unconsolidated Entities (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of Equity Method Investments [Line Items]

Schedule Of Assets Liabilities and Equity Of Joint Venture Table

The following tables sets forth the total assets, liabilities, equity and components of net loss, including the Company’s share, related to all JVs for the years ended December 31, 2014, 2013 and 2012 (in thousands):



Balance Sheet
	December 31, 2014		December 31, 2013			December 31, 2012
Assets
Investment in hotel properties, net	$	1,907,928	$	874,058		$	862,747
Other assets	261,311		114,034			86,149
Total Assets	$	2,169,239	$	988,092		$	948,896

Liabilities
Mortgages and notes payable	$	1,677,159	$	969,023		$	792,239
Other Liabilities	34,929		19,211			27,041
Total Liabilities	1,712,088		988,234			819,280

Equity
Chatham Lodging Trust	45,470		(802		)	13,362
Joint Venture Partner	411,681		660			116,254
Total Equity	457,151		(142		)	129,616
Total Liabilities and Equity	$	2,169,239	$	988,092		$	948,896

Schedule Of Income From Joint Venture Table



	For the year ended
Statement of Operations	December 31,
	2014			2013			2012
Revenue	$	290,419		$	271,224		$	251,612
Total hotel operating expenses	166,849			151,823			143,525
Operating income	$	123,570		$	119,401		$	108,087
Net loss from continuing operations	$	(40,018	)	$	(14,376	)	$	(16,093	)
Gain (loss) on sale of hotels	$	(5	)	$	(2,730	)	$	2,092
Net loss	$	(40,023	)	$	(17,106	)	$	(14,001	)

Income allocable to the Company	$	(4,165	)	$	(1,874	)	$	(1,439	)
Basis difference adjustment	$	335		$	—		$	—
Total loss from unconsolidated real estate entities attributable to Chatham	$	(3,830	)	$	(1,874	)	$	(1,439	)

Torrance Joint Venture

Schedule of Equity Method Investments [Line Items]

Additional Cash Flow Information Table

During the years ended December 31, 2014 and 2013, the Company received cash distributions from the Torrance JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	100	$	40
Cash generated from debt refinancing	—		908
Total	$	100	$	948

Innkeepers Joint Venture

Schedule of Equity Method Investments [Line Items]

Additional Cash Flow Information Table

During the years ended December 31, 2014 and 2013, the Company received cash distributions from the Innkeepers JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	411	$	2,716
Cash generated from asset sales	—		130
Cash generated from debt refinancing	—		10,145
Total	$	411	$	12,991

NewINK Joint Venture

Schedule of Equity Method Investments [Line Items]

Additional Cash Flow Information Table

During the years ended December 31, 2014 and 2013, the Company received cash distributions from the NewINK JV as follows (in thousands):



	For the year ended
	December 31,
	2014		2013
Cash generated from other activities and excess cash	$	1,542	$	—
Total	$	1,542	$	—

Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Components of Mortgage Debt

Mortgage debt consisted of the following (in thousands):



Collateral	Interest Rate		Maturity Date	12/31/14 Property Carrying Value		Balance Outstanding as of
Collateral	Interest Rate		Maturity Date	12/31/14 Property Carrying Value		December 31, 2014		December 31, 2013
Senior Secured Revolving Credit Facility (1)	2.67	%	November 5, 2016	$	177,133	$	22,500	$	50,000
SpringHill Suites by Marriott Washington, PA	5.84	%	April 1, 2015	11,509		4,760		4,937
Courtyard by Marriott Altoona, PA	5.96	%	April 1, 2016	10,553		6,172		6,378
Residence Inn by Marriott New Rochelle, NY	5.75	%	September 1, 2021	21,075		14,832		15,150
Residence Inn by Marriott San Diego, CA	4.66	%	February 6, 2023	46,947		30,062		30,546
Homewood Suites by Hilton San Antonio, TX	4.59	%	February 6, 2023	29,615		17,174		17,454
Residence Inn by Marriott Vienna, VA	4.49	%	February 6, 2023	32,918		23,534		23,925
Courtyard by Marriott Houston, TX	4.19	%	May 6, 2023	32,526		19,475		19,812
Hyatt Place Pittsburgh, PA	4.65	%	July 6, 2023	38,187		23,657		24,028
Residence Inn by Marriott Bellevue, WA	4.97	%	December 6, 2023	69,635		47,580		47,580
Residence Inn by Marriott Garden Grove, CA (2)	4.79	%	April 6, 2024	42,873		34,000		32,253
Residence Inn by Marriott Silicon Valley I, CA (3)	4.64	%	July 1, 2024	90,509		64,800		—
Residence Inn by Marriott Silicon Valley II, CA (3)	4.64	%	July 1, 2024	99,150		70,700		—
Residence Inn by Marriott San Mateo, CA (3)	4.64	%	July 1, 2024	71,022		48,600		—
Residence Inn by Marriott Mountain View, CA (3)	4.64	%	July 1, 2024	54,781		37,900		—
SpringHill Suites by Marriott Savannah, GA (4)	4.62	%	July 6, 2024	38,215		30,000		—
Homewood Suites by Hilton Billerica, MA (5)	4.32	%	December 6, 2024	12,238		16,225		—
Homewood Suite by Marriott Carlsbad, CA (5)	4.32	%	December 6, 2024	28,838		19,950		—
Hampton Inn & Suites Houston Medical Cntr., TX (6)	4.25	%	January 6, 2025	15,605		18,300		—
Total				$	923,329	$	550,221	$	272,063


(1)	Ten properties in the borrowing base serve as collateral for borrowings under the credit facility at December 31, 2014. The interest rate for the senior secured revolving credit facility is variable and based on LIBOR plus 2.5%.


(2)	On March 21, 2014, the Company refinanced the mortgage for the Residence Inn Garden Grove hotel. The new loan has a 10-year term and a 30-year amortization payment schedule but is interest only for the first 12 months. The Company incurred $184 in costs for the early extinguishment of debt related to the old loan.


(3)	On June 9, 2014, the Company obtained 4 new mortgage loans secured by a first mortgage for the Silicon Valley I, Silicon Valley II, San Mateo and Mountain View hotels, respectively. The new loans have a 10-year term and a 30-year amortization payment schedule but are interest only for the first 60 months.


(4)	On July 2, 2014, the Company obtained a new mortgage loan secured by a first mortgage for the Savannah hotel. The loan has a 10-year term and a 30-year amortization payment schedule but is interest only for the first 60 months.


(5)	On November 25, 2014, the Company obtained 2 new mortgage loans secured by a first mortgage on each of the Billerica and Carlsbad hotels. The loans have a 10-year term and a 30-year amortization payment schedule but are interest only for the first 36 months.


(6)	On December 17, 2014, the Company obtained a new mortgage loan secured by a first mortgage on the Houston Medical Center hotel. The loan has a 10-year term, a 30-year amortization payment schedule but is interest only for the first 36 months.

Summary of Amendment to Senior Secured Revolving Credit Facility

Other key terms are as follows:



Facility amount		$175,000
Accordion feature		Increase additional $50,000
LIBOR floor		None
Interest rate applicable margin		200-300 basis points, based on leverage ratio
Unused fee		25 basis points if less than 50% unused, 35 basis points if more than 50% unused
Minimum fixed charge coverage ratio		1.5x

Future Scheduled Principal Payments of Debt Obligations

Future scheduled principal payments of debt obligations as of December 31, 2014, for each of the next five calendar years and thereafter are as follows (in thousands):



	Amount
2015	$	8,062
2016	31,978
2017	3,971
2018	5,012
2019	7,046
Thereafter	494,152
Total	$	550,221

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Components of Income Tax Expense

The components of income tax expense for the following periods are as follows (in thousands):



	For the year ended
	December 31,
	2014			2013		2012
Current:
Federal	$	82		$	93	$	55
State	27			30		19
Current tax expense	$	109		$	123	$	74

Deferred:
Federal	(3		)	—		1
State	(1		)	1		—
Deferred tax expense	(4		)	1		1
Total tax expense	$	105		$	124	$	75

Schedule of Effective Income Tax Rate Reconciliation



	For the year ended
	December 31,
	2014			2013			2012
Book income (loss) before income taxes	$	(520	)	$	(2,080	)	$	159

Statutory rate of 34% applied to pre-tax income	$	(178	)	$	(707	)	$	54
Effect of state and local income taxes, net of federal tax benefit	(14		)	(82		)	20
Provision to return and deferred adjustment	40			118			—
Change in valuation allowance	257			795			1
Total expense	$	105		$	124		$	75

Effective tax rate	(20.19		)%	(5.96		)%	47.17		%

Schedule of Deferred Tax Assets and Liabilities

The tax effect of each type of temporary difference and carry forward that gives rise to the deferred tax asset as of December 31, 2014 and 2013 are as follows (in thousands):



	For the year ended
	December 31,
	2014			2013
Deferred tax assets:
Allowance for doubtful accounts	$	28		$	11
Other	230			101
Valuation allowance	(248		)	(89		)
Current deferred tax asset	$	10		$	23
Non-current
Total book to tax difference in partnership	$	(165	)	$	(149	)
Net operating loss	1,214			1,100
Valuation allowance	(1,049		)	(951		)
Non-current deferred tax asset	$	—		$	—
Net deferred tax asset	$	10		$	23

Dividends Declared and Paid (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Dividends Declared and Paid

The dividends and distributions and their tax characterization were as follows:



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Return of Capital
January	1/31/2014	2/28/2014	$	0.07	$	0.07	$	0.069	$	0.001
February	2/28/2014	3/28/2014	0.07		0.07		0.069		0.001
March	3/31/2014	4/25/2014	0.07		0.07		0.069		0.001
1st Quarter 2014			$	0.21	$	0.21	$	0.207	$	0.003

April	4/30/2014	5/30/2014	$	0.08	$	0.08	$	0.078	$	0.002
May	5/30/2014	6/27/2014	0.08		0.08		0.078		0.002
June	6/30/2014	7/25/2014	0.08		$	0.08	0.078		0.002
2nd Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

July	7/31/2014	8/29/2014	$	0.08	$	0.08	$	0.078	$	0.002
August	8/29/2014	9/26/2014	0.08		0.08		0.078		0.002
September	9/30/2014	10/31/2014	$	0.08	0.08		$	0.078	$	0.002
3rd Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

October	10/31/2014	11/28/2014	$	0.08	$	0.08	$	0.078	$	0.002
November	11/28/2014	12/26/2014	0.08		0.08		0.078		0.002
December	12/31/2014	1/30/2015	$	0.08	$	0.08	$	0.078	$	0.002
4th Quarter 2014			$	0.24	$	0.24	$	0.234	$	0.006

Total 2014			$	0.93	$	0.93	$	0.909	$	0.021



	Record Date	Payment Date	Common share distribution amount		LTIP unit distribution amount		Ordinary Income		Return of Capital
January	1/31/2013	2/22/2013	$	0.07	$	0.07	$	0.06	$	0.01
February	2/28/2013	3/29/2013	0.07		0.07		0.06		0.01
March	3/28/2013	4/26/2013	0.07		0.07		0.06		0.01
1st Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

April	4/30/2013	5/31/2013	$	0.07	$	0.07	$	0.06	$	0.01
May	5/31/2013	6/28/2013	0.07		0.07		0.06		0.01
June	6/28/2013	7/26/2013	0.07		$	0.07	0.06		0.01
2nd Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

July	7/31/2013	8/30/2013	$	0.07	$	0.07	$	0.06	$	0.01
August	8/30/2013	9/27/2013	0.07		0.07		0.06		0.01
September	9/30/2013	10/25/2013	$	0.07	0.07		$	0.06	$	0.01
3rd Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

October	10/31/2013	11/29/2013	$	0.07	$	0.07	$	0.06	$	0.01
November	11/29/2013	12/27/2013	0.07		0.07		0.06		0.01
December	12/31/2013	1/31/2014	$	0.07	$	0.07	$	0.06	$	0.01
4th Quarter 2013			$	0.21	$	0.21	$	0.18	$	0.03

Total 2013			$	0.84	$	0.84	$	0.72	$	0.12

Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Equity [Abstract]

Schedule of Stock by Class

Common share stock offerings of the Company consisted of the following from inception through December 31, 2014:



Type of Offering	Date	Shares Issued	Price per Share		Gross Proceeds (in millions)		Net Proceeds (in millions)
Initial public offering	4/21/2010	8,625,000	$	20.00	$	172.5	$	158.7
Private placement offering (1)	4/21/2010	500,000	20.00		10.0		10.0
Follow-on common share offering	2/8/2011	4,000,000	16.00		64.0		60.3
Over-allotment option	2/8/2011	600,000	16.00		9.6		9.1
Follow-on common share offering	1/14/2013	3,500,000	14.70		51.4		48.4
Over-allotment option	1/31/2013	92,677	14.70		1.4		1.3
Follow-on common share offering	6/18/2013	4,500,000	16.35		73.6		70.0
Over-allotment option	6/28/2013	475,823	16.35		7.8		7.4
Follow-on common share offering	9/30/2013	3,250,000	18.35		59.6		56.7
Over-allotment option	10/11/2013	487,500	18.35		8.9		8.5
Follow-on common share offering	9/24/2014	6,000,000	21.85		131.1		125.6
Over-allotment option	9/24/2014	900,000	21.85		19.7		18.9
		32,931,000			$	609.6	$	574.9

(1) The Company sold 500,000 common shares to Jeffrey H. Fisher, the Company’s Chairman, President and Chief Executive Officer (“Mr. Fisher”) in a private placement concurrent with its IPO.

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.28,29)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 480

-SubTopic 10

-Section S99

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29

-Article 5

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 30

-Article 5

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

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-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share

The following is a reconciliation of the amounts used in calculating basic and diluted net income (loss) per share (in thousands, except share and per share data):



	For the year ended
	December 31,
	2014			2013			2012
Numerator:
Net income (loss)	$	66,873		$	2,982		$	(1,450	)
Dividends paid on unvested shares and units	(216		)	(294		)	(272		)
Undistributed earnings allocated to unvested shares and units	$	(324	)	$	—		$	—
Net income (loss) attributable to common shareholders	$	66,333		$	2,688		$	(1,722	)
Denominator:
Weighted average number of common shares - basic	28,531,094			21,035,892			13,811,691
Effect of dilutive securities:
Unvested shares	315,630			247,939			—
Weighted average number of common shares - diluted	28,846,724			21,283,831			13,811,691
Basic income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share	$	2.32		$	0.13		$	(0.12	)
Diluted income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share	$	2.30		$	0.13		$	(0.12	)

Equity Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Restricted Share Awards

A summary of the shares granted to executive officers that have not fully vested pursuant to the Equity Incentive Plan as of December 31, 2014 are:



Award Type	Award Date	Total Shares Granted	Vested as of December 31, 2014
2012 Time-based Awards	2/23/2012	61,376	40,918
2012 Performance-based Awards	2/23/2012	53,191	35,462
2013 Time-based Awards	1/29/2013	40,829	13,611
2013 Performance-based Awards	5/17/2013	40,829	13,611
2014 Time-based Awards	1/31/2014	48,213	—
2014 Performance-based Awards	1/31/2014	38,805	—

A summary of the Company’s restricted share awards for the years ended December 31, 2014, 2013 and 2012 is as follows:



	December 31, 2014				December 31, 2013				December 31, 2012
	Number of Shares		Weighted - Average Grant Date Fair Value		Number of Shares		Weighted - Average Grant Date Fair Value		Number of Shares		Weighted - Average Grant Date Fair Value
Non-vested at beginning of the period	158,035		$	12.39	140,077		$	12.70	51,029		$	19.04
Granted	87,018		17.46		81,658		13.43		114,567		11.28
Vested	(65,412	)	12.17		(63,700	)	14.39		(25,519	)	19.04
Non-vested at end of the period	179,641		$	14.92	158,035		$	12.39	140,077		$	12.70

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Minimum Future Obligation Payments Required Under Ground Leases

The following is a schedule of the minimum future obligation payments required under the ground, air rights and garage leases as of December 31, 2014, and for each of the next five calendar years and thereafter (in thousands):



	Amount
2015	$	210
2016	212
2017	214
2018	217
2019	219
Thereafter	11,009
Total	$	12,081

Schedule of Management Agreement Terms

As of December 31, 2014, Terms of the Company's management agreements are:



Property	Management Company	Base Management Fee		Monthly Accounting Fee	Monthly Revenue Management Fee	Incentive Management Fee
Courtyard Altoona	Concord	4.0	%	1,211	—	—	%
Springhill Suites Washington	Concord	4.0	%	991	—	—	%
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Minneapolis-Mall of America	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Nashville-Brentwood	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Dallas-Market Center	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Hartford-Farmington	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Orlando-Maitland	IHM	2.0	%	1,000	550	1.0	%
Homewood Suites by Hilton Carlsbad (North San Diego County)	IHM	3.0	%	1,000	—	1.0	%
Hampton Inn & Suites Houston-Medical Center	IHM	3.0	%	1,000	—	1.0	%
Residence Inn Long Island Holtsville	IHM	3.0	%	1,000	—	1.0	%
Residence Inn White Plains	IHM	3.0	%	1,000	—	1.0	%
Residence Inn New Rochelle	IHM	3.0	%	1,000	—	1.0	%
Residence Inn Garden Grove	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Mission Valley	IHM	2.5	%	1,000	—	1.0	%
Homewood Suites by Hilton San Antonio River Walk	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Washington DC	IHM	2.5	%	1,000	—	1.0	%
Residence Inn Tysons Corner	IHM	2.5	%	1,000	—	1.0	%
Hampton Inn Portland Downtown	IHM	3.0	%	1,000	550	1.0	%
Courtyard Houston	IHM	3.0	%	1,000	550	1.0	%
Hyatt Place Pittsburgh North Shore	IHM	3.0	%	1,500	1,000	1.0	%
Hampton Inn Exeter	IHM	3.0	%	1,200	1,000	1.0	%
Hilton Garden Inn Denver Tech	IHM	3.0	%	1,500	1,000	1.0	%
Residence Inn Bellevue	IHM	3.0	%	1,200	1,000	1.0	%
Springhill Suites Savannah	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Silicon Valley I	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Silicon Valley II	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn San Mateo	IHM	3.0	%	1,200	1,000	1.0	%
Residence Inn Mountain View	IHM	3.0	%	1,200	1,000	1.0	%
Hyatt Place Cherry Creek	IHM	3.0	%	1,500	1,000	1.0	%
Courtyard Addison	IHM	3.0	%	1,500	1,000	1.0	%
Courtyard West University Houston	IHM	3.0	%	1,500	1,000	1.0	%
Residence Inn West University Houston	IHM	3.0	%	1,200	1,000	1.0	%
Hilton Garden Inn Burlington	IHM	3.0	%	1,500	1,000	1.0	%

Schedule of Franchise Agreement Terms

Terms of the Company's Franchise agreements are as of December 31, 2014:



Property	Franchise/Royalty Fee		Marketing/Program Fee		Expiration
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington	4.0	%	4.0	%	2025
Homewood Suites by Hilton Minneapolis-Mall of America	4.0	%	4.0	%	2025
Homewood Suites by Hilton Nashville-Brentwood	4.0	%	4.0	%	2025
Homewood Suites by Hilton Dallas-Market Center	4.0	%	4.0	%	2025
Homewood Suites by Hilton Hartford-Farmington	4.0	%	4.0	%	2025
Homewood Suites by Hilton Orlando-Maitland	4.0	%	4.0	%	2025
Homewood Suites by Hilton Carlsbad (North San Diego County)	4.0	%	4.0	%	2028
Hampton Inn & Suites Houston-Medical Center	5.0	%	4.0	%	2020
Courtyard Altoona	5.5	%	2.0	%	2030
Springhill Suites Washington	5.0	%	2.5	%	2030
Residence Inn Long Island Holtsville	5.5	%	2.5	%	2025
Residence Inn White Plains	5.5	%	2.5	%	2030
Residence Inn New Rochelle	5.5	%	2.5	%	2030
Residence Inn Garden Grove	5.0	%	2.5	%	2031
Residence Inn Mission Valley	5.0	%	2.5	%	2031
Homewood Suites by Hilton San Antonio River Walk	4.0	%	4.0	%	2026
Residence Inn Washington DC	5.5	%	2.5	%	2033
Residence Inn Tysons Corner	5.0	%	2.5	%	2031
Hampton Inn Portland Downtown	6.0	%	4.0	%	2032
Courtyard Houston	5.5	%	2.0	%	2030
Hyatt Place Pittsburgh North Shore	5.0	%	3.5	%	2030
Hampton Inn Exeter	6.0	%	4.0	%	2031
Hilton Garden Inn Denver Tech	4.3	%	5.5	%	2028
Residence Inn Bellevue	5.5	%	2.5	%	2033
Springhill Suites Savannah	5.0	%	2.5	%	2033
Residence Inn Silicon Valley I	5.5	%	2.5	%	2029
Residence Inn Silicon Valley II	5.5	%	2.5	%	2029
Residence Inn San Mateo	5.5	%	2.5	%	2029
Residence Inn Mountain View	5.5	%	2.5	%	2029
Hyatt Place Cherry Creek	3-5.0%		3.5	%	2034
Courtyard Addison	5.5	%	2.0	%	2029
Courtyard West University Houston	5.5	%	2.0	%	2029
Residence Inn West University Houston	6.0	%	2.0	%	2024
Hilton Garden Inn Burlington	5.5	%	4.3	%	2029

Quarterly Operating Results (unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	Quarter Ended - 2014
	March 31			June 30		September 30		December 31
	(in thousands, except share and per share data)

Total revenue	$	36,866		$	47,077	$	60,662	$	52,610
Total operating expenses	34,370			42,076		45,979		48,095
Operating income	2,496			5,001		14,683		4,516
Net income (loss) attributable to common shareholders	(1,808		)	65,137		8,664		(5,660		)
Income (loss) per common share, basic (1)	(0.07		)	2.46		0.32		(0.16		)
Income (loss) per common share, diluted (1)	(0.07		)	2.44		0.31		(0.16		)

Weighted average number of common shares outstanding:
Basic	26,271,678			26,437,878		27,370,815		33,972,134
Diluted	26,271,678			26,734,919		27,695,347		33,972,134


	Quarter Ended - 2013
	March 31			June 30		September 30		December 31
	(in thousands, except share and per share data)

Total revenue	$	25,779		$	30,746	$	35,370	$	34,333
Total operating expenses	22,997			25,730		29,359		30,781
Operating income	2,782			5,016		6,011		3,552
Net income (loss) attributable to common shareholders	(1,696		)	2,103		2,469		(188		)
Income (loss) per common share, basic and diluted (1)	(0.1		)	0.12		0.11		(0.01		)

Weighted average number of common shares outstanding:
Basic	17,212,124			18,147,108		22,508,988		26,160,823
Diluted	17,212,124			18,383,626		22,769,282		26,160,823

Organization - Additional Information (Details)	12 Months Ended
Organization - Additional Information (Details)	Dec. 31, 2014 state Room Hotel	Dec. 31, 2014 NewINK Joint Venture Hotel	Jun. 09, 2014 NewINK Joint Venture	Dec. 31, 2014 Innkeepers Joint Venture Room	Dec. 31, 2014 Inland Joint Venture Hotel Room	Nov. 17, 2014 Inland Joint Venture	Dec. 31, 2014 Cerberus Capital Management Innkeepers Joint Venture Hotel	Jun. 08, 2014 Cerberus Capital Management Innkeepers Joint Venture	Dec. 31, 2014 Cerberus Capital Management Torrance Joint Venture Room	Apr. 17, 2013 Cerberus Capital Management Torrance Joint Venture Room	Dec. 31, 2014 Island Hospitality Management Inc. Hotel	Dec. 31, 2014 Island Hospitality Management Inc. Inland Joint Venture Hotel	Dec. 31, 2014 Concord Hospitality Enterprises Hotel	Dec. 31, 2014 Marriott International, Inc. Inland Joint Venture Hotel
Subsidiary, Sale of Stock [Line Items]
Percentage of common units of limited partnership owned	100.00%
Number of hotels in ownership by Company	34	47			48
Aggregate number of rooms in hotels	5,115			6,094	6,401				248	248
Number of states in which hotels are owned	15
Indirect ownership in the leased, hotels		10.30%	10.30%		10.00%	10.00%		10.30%	5.00%	5.00%
Number of hotels managed by related party							47				32	34	2	14
Number of hotels acquired					48
Initial term of each TRS lease	5 years
Ownership percentage in related party owned by the company's chairman											90.00%

Summary of Significant Accounting Policies - Investment in Hotel Properties (Details)				12 Months Ended
	Dec. 31, 2014 Hotel	Dec. 31, 2013 Hotel	Dec. 31, 2012 Hotel	Dec. 31, 2014 Building Maximum	Dec. 31, 2014 Land Improvements Maximum	Dec. 31, 2014 Building Improvements Maximum	Dec. 31, 2014 Furniture, fixtures, and equipment Minimum	Dec. 31, 2014 Furniture, fixtures, and equipment Maximum
Property, Plant and Equipment [Line Items]
Useful life				40 years	20 years	15 years	1 year	10 years
Number of hotel properties impaired	0	0	0
Number of hotel properties held for sale	0

Summary of Significant Accounting Policies - Restricted Cash (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 12,030	$ 4,605
Renovation, Property Tax And Insurance Escrows
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 12,030	$ 4,605

Summary of Significant Accounting Policies - Additional Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Hotel	Dec. 31, 2013
Disclosure Summary Of Significant Accounting Policies Additional Information [Abstract]
Hotel receivables, allowance for doubtful accounts	$ 71	$ 30
Income Tax Holiday [Line Items]
Percentage of REIT taxable income distributed to its shareholders	90.00%
Tax holiday period for REIT taxable income	4 years
Number of hotels in ownership by Company	34
Deferred finance costs, net	$ 0	$ 91
NewINK Joint Venture
Income Tax Holiday [Line Items]
Number of hotels in ownership by Company	47
Inland Joint Venture
Income Tax Holiday [Line Items]
Number of hotels in ownership by Company	48

Summary of Significant Accounting Policies - Deferred Costs (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Deferred Costs [Abstract]
Loan costs	$ 10,717	$ 9,529
Franchise fees	2,969	2,215
Other	0	91
Deferred costs, gross	13,686	11,835
Less accumulated amortization	(6,172)	(4,722)
Deferred costs, net	7,514	7,113
Schedule of Deferred Costs [Line Items]
Amortization of deferred franchise fees	131	87	75
Amortization of deferred financing fees included in interest expense	1,532	1,088	1,840
Franchise
Schedule of Deferred Costs [Line Items]
Amortization of deferred franchise fees	131	87	75
Loans
Schedule of Deferred Costs [Line Items]
Amortization of deferred financing fees included in interest expense	$ 1,532	$ 1,088	$ 1,840

Acquisition of Hotel Properties - Allocation of Purchase Price to Hotels Based on Fair Value (Details) (USD $) In Thousands, unless otherwise specified		0 Months Ended		0 Months Ended		0 Months Ended
	Dec. 31, 2014 Room	Jun. 09, 2014 Silicon Valley hotels	Jun. 09, 2014 Silicon Valley hotels Room	Aug. 29, 2014 Cherry Creek hotel	Aug. 29, 2014 Cherry Creek hotel Room	Nov. 17, 2014 Inland 4 Pack hotels	Nov. 17, 2014 Inland 4 Pack hotels Room
Schedule of Business Acquisitions, Purchase Price Allocation [Line Items]
Acquisition date		Jun. 09, 2014		Aug. 29, 2014		Nov. 17, 2014
Number of rooms (unaudited)	1,520		751		194		575
Land	$ 166,188		$ 149,565		$ 3,700		$ 12,923
Building and improvements	278,105		159,391		26,300		92,414
Furniture, fixtures and equipment	18,301		14,897		2,000		1,404
Cash	37		25		1		11
Restricted cash	0		0		0		0
Accounts receivable	1,389		959		56		374
Deferred costs, net	0		0		0		0
Prepaid expenses and other assets	362		289		17		56
Mortgage Debt	0		0		0		0
Accounts payable and accrued expenses	(748)		0		(62)		(686)
Net assets acquired	463,634		325,126		32,012		106,496
Less: Fair value of interest in the Silicon Valley Hotels and NewINK JV	(58,860)		(58,860)		0		0
Net assets acquired, net of cash	$ 404,737		$ 266,241		$ 32,011		$ 106,485

Acquisition of Hotel Properties - Additional Information (Details) (USD $) In Thousands, except Share data, unless otherwise specified	0 Months Ended	12 Months Ended
	Jan. 01, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition [Line Items]
Acquisition costs incurred		$ 10,381	$ 3,341	$ 236
Assumed shares issued due to acquisitions	28,531,094
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Acquisition costs incurred		$ 7,234	$ 1,667

Acquisition of Hotel Properties - Revenue and Operating Income (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition [Line Items]
Operating Income	$ 4,516	$ 14,683	$ 5,001	$ 2,496	$ 3,552	$ 6,011	$ 5,016	$ 2,782	$ 26,696	$ 17,361	$ 14,650
Silicon Valley hotels
Business Acquisition [Line Items]
Revenue									26,814
Operating Income									16,554
Cherry Creek hotel
Business Acquisition [Line Items]
Revenue									2,445
Operating Income									1,111
Inland 4 Pack hotels
Business Acquisition [Line Items]
Revenue									2,035
Operating Income									692
Recent Acquisitions
Business Acquisition [Line Items]
Revenue									31,294
Operating Income									$ 18,357

Acquisition of Hotel Properties - Pro forma Financial Information (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pro forma income per share:
Weighted average number of common shares - basic (in shares)	33,972,134	27,370,815	26,437,878	26,271,678	26,160,823	22,508,988	18,147,108	17,212,124	28,531,094	21,035,892	13,811,691
Weighted average number of common shares - diluted (in shares)	33,972,134	27,695,347	26,734,919	26,271,678	26,160,823	22,769,282	18,383,626	17,212,124	28,846,724	21,283,831	13,811,691
Recent Acquisitions
Business Acquisition, Pro Forma Information [Line Items]
Pro forma total revenue									$ 237,681	$ 216,239	$ 141,557
Pro forma net income (loss)									$ 80,930	$ 7,627	$ 1,928
Pro forma income per share:
Basic (in dollars per share)									$ 2.84	$ 0.27	$ 0.07
Diluted (in dollars per share)									$ 2.81	$ 0.26	$ 0.07
Weighted average number of common shares - basic (in shares)									28,531,094	28,531,094	28,531,094
Weighted average number of common shares - diluted (in shares)									28,846,724	28,846,724	28,846,724

Investment in Hotel Properties (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Investments Schedule [Abstract]
Land and improvements	$ 261,108	$ 94,847
Building and improvements	844,396	559,713
Furniture, fixtures and equipment	61,186	36,628
Renovations in progress	6,574	4,006
Investment in hotel properties, at cost	1,173,264	695,194
Less accumulated depreciation	(76,839)	(42,317)
Investment in hotel properties, net	$ 1,096,425	$ 652,877

Investment in Unconsolidated Entities - Additional Information (Details) (USD $)								0 Months Ended
	Dec. 31, 2014 Room	Jun. 09, 2014 Hotel	Dec. 31, 2013	Dec. 31, 2014 Torrance Joint Venture	Dec. 31, 2014 Torrance Joint Venture Cerberus Capital Management Room	Apr. 17, 2013 Torrance Joint Venture Cerberus Capital Management Room	Apr. 17, 2013 Torrance Joint Venture Cerberus Capital Management Senior Secured Revolving Credit Facility	Jun. 09, 2014 Innkeepers Joint Venture	Dec. 31, 2014 Innkeepers Joint Venture Room	Jun. 08, 2014 Innkeepers Joint Venture Cerberus Capital Management Room Hotel	Dec. 31, 2014 Inland Joint Venture Room	Nov. 17, 2014 Inland Joint Venture	Dec. 31, 2014 NewINK Joint Venture	Jun. 09, 2014 NewINK Joint Venture Hotel
Schedule of Equity Method Investments [Line Items]
Indirect ownership in the leased, hotels					5.00%	5.00%				10.30%	10.00%	10.00%	10.30%	10.30%
Investment in joint venture				$ 782,000		$ 31,000,000	$ 1,649,000				$ 25,676,000		$ 1,694,000
Aggregate number of rooms in hotels	5,115				248	248			6,094		6,401
Joint Venture, Number of Hotels in Joint Venture Real Estate Portfolio										51				47
Joint Venture, Number Of Hotel Rooms In Joint Venture Real Estate Portfolio										6,845
Joint Venture, Percentage Ownership By Third Party												90.00%		89.70%
Real estate investment, purchase of hotels, number of hotels		4
Joint Venture, Gain (Loss) On Remeasurement Of Joint Venture								18,800,000
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee								47,000,000
Gain (Loss) on Disposition of Stock in Subsidiary or Equity Method Investee After Remeasurement								65,800,000
Investment in unconsolidated real estate entities	28,152,000		774,000										19,000,000
Real Estate Investments, Unconsolidated Real Estate and Other Joint Ventures, Difference Between Carrying Amount And Share Of Partners' Capital													$ 17,300,000

Investment in Unconsolidated Entities - Cash Received and Distributions from Joint Venture (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]
Cash generated from debt refinancing	$ 414,538	$ 203,344	$ (2,033)
Net change in cash and cash equivalents	10,856	(275)	(184)
Torrance Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash generated from other activities and excess cash	100	40
Cash generated from debt refinancing		908
Net change in cash and cash equivalents	100	948
Innkeepers Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash generated from other activities and excess cash	411	2,716
Cash generated from asset sales	0	130
Cash generated from debt refinancing	0	10,145
Net change in cash and cash equivalents	411	12,991
NewINK Joint Venture
Schedule of Equity Method Investments [Line Items]
Cash generated from other activities and excess cash	1,542	0
Net change in cash and cash equivalents	$ 1,542	$ 0

Investment in Unconsolidated Entities - Components of Assets, Liabilities, and Equity Related to Joint Venture (Details) (Details) (Total Minority Interest Joint Ventures, USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Total Minority Interest Joint Ventures
Schedule of Equity Method Investments [Line Items]
Investment in hotel properties, net	$ 1,907,928	$ 874,058	$ 862,747
Other assets	261,311	114,034	86,149
Total Assets	2,169,239	988,092	948,896
Mortgages and notes payable	1,677,159	969,023	792,239
Other Liabilities	34,929	19,211	27,041
Total Liabilities	1,712,088	988,234	819,280
Chatham Lodging Trust	45,470	(802)	13,362
Joint Venture Partner	411,681	660	116,254
Total Equity	457,151	(142)	129,616
Total Equity	$ 2,169,239	$ 988,092	$ 948,896

Investment in Unconsolidated Entities - Components of Net Loss, Including Share, Related to Joint Venture (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Total hotel operating expenses	$ 48,095	$ 45,979	$ 42,076	$ 34,370	$ 30,781	$ 29,359	$ 25,730	$ 22,997	$ 170,520	$ 108,867	$ 85,814
Operating income	4,516	14,683	5,001	2,496	3,552	6,011	5,016	2,782	26,696	17,361	14,650
Net income attributable to common shareholders									66,873	2,982	(1,450)
Total loss from unconsolidated real estate entities attributable to Chatham									65,750	0	0
Total Minority Interest Joint Ventures
Income Statement [Abstract]
Revenue									290,419	271,224	251,612
Total hotel operating expenses									166,849	151,823	143,525
Operating income									123,570	119,401	108,087
Net loss from continuing operations									(40,018)	(14,376)	(16,093)
Gain (loss) on sale of hotels									(5)	(2,730)	2,092
Net income attributable to common shareholders									(40,023)	(17,106)	(14,001)
Income allocable to the Company									(4,165)	(1,874)	(1,439)
Basis difference adjustment									335	0	0
Total loss from unconsolidated real estate entities attributable to Chatham									$ (3,830)	$ (1,874)	$ (1,439)

Debt - Components of Mortgage Debt (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Participating Mortgage Loans [Line Items]
Carrying Value	$ 923,329
Mortgage debt	550,221	272,063
Senior Secured Revolving Credit Facility
Participating Mortgage Loans [Line Items]
Interest Rate	2.67%
Maturity Date	Nov. 05, 2016
Carrying Value	177,133
Mortgage debt	22,500	50,000
SpringHill Suites by Marriott Washington, PA
Participating Mortgage Loans [Line Items]
Interest Rate	5.84%
Maturity Date	Apr. 01, 2015
Carrying Value	11,509
Mortgage debt	4,760	4,937
Courtyard by Marriott Altoona, PA
Participating Mortgage Loans [Line Items]
Interest Rate	5.96%
Maturity Date	Apr. 01, 2016
Carrying Value	10,553
Mortgage debt	6,172	6,378
Residence Inn by Marriott New Rochelle, NY
Participating Mortgage Loans [Line Items]
Interest Rate	5.75%
Maturity Date	Sep. 01, 2021
Carrying Value	21,075
Mortgage debt	14,832	15,150
Residence Inn by Marriott San Diego, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.66%
Maturity Date	Feb. 06, 2023
Carrying Value	46,947
Mortgage debt	30,062	30,546
Homewood Suites by Hilton San Antonio, TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.59%
Maturity Date	Feb. 06, 2023
Carrying Value	29,615
Mortgage debt	17,174	17,454
Residence Inn by Marriott Vienna, VA
Participating Mortgage Loans [Line Items]
Interest Rate	4.49%
Maturity Date	Feb. 06, 2023
Carrying Value	32,918
Mortgage debt	23,534	23,925
Courtyard by Marriott Houston, TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.187%
Maturity Date	May 06, 2023
Carrying Value	32,526
Mortgage debt	19,475	19,812
Hyatt Place Pittsburgh, PA
Participating Mortgage Loans [Line Items]
Interest Rate	4.65%
Maturity Date	Jul. 06, 2023
Carrying Value	38,187
Mortgage debt	23,657	24,028
Residence Inn by Marriott Bellevue, WA
Participating Mortgage Loans [Line Items]
Interest Rate	4.97%
Maturity Date	Dec. 06, 2023
Carrying Value	69,635
Mortgage debt	47,580	47,580
Residence Inn by Marriott Garden Grove, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.79%
Maturity Date	Apr. 06, 2024
Carrying Value	42,873
Mortgage debt	34,000	32,253
Residence Inn by Marriott Silicon Valley I, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Maturity Date	Jul. 01, 2024
Carrying Value	90,509
Mortgage debt	64,800	0
Residence Inn by Marriott Silicon Valley II, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Maturity Date	Jul. 01, 2024
Carrying Value	99,150
Mortgage debt	70,700	0
Residence Inn by Marriott San Mateo, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Maturity Date	Jul. 01, 2024
Carrying Value	71,022
Mortgage debt	48,600	0
Residence Inn by Marriott Mountain View, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.64%
Maturity Date	Jul. 01, 2024
Carrying Value	54,781
Mortgage debt	37,900	0
SpringHill Suites by Marriott Savannah, GA
Participating Mortgage Loans [Line Items]
Interest Rate	4.62%
Maturity Date	Jul. 06, 2024
Carrying Value	38,215
Mortgage debt	30,000	0
Homewood Suites by Hilton Billerica, MA
Participating Mortgage Loans [Line Items]
Interest Rate	4.323%
Maturity Date	Dec. 06, 2024
Carrying Value	12,238
Mortgage debt	16,225	0
Homewood Suite by Marriott Carlsbad, CA
Participating Mortgage Loans [Line Items]
Interest Rate	4.323%
Maturity Date	Dec. 06, 2024
Carrying Value	28,838
Mortgage debt	19,950	0
Hampton Inn & Suites Houston Medical Cntr., TX
Participating Mortgage Loans [Line Items]
Interest Rate	4.25%
Maturity Date	Jan. 06, 2025
Carrying Value	15,605
Mortgage debt	$ 18,300	$ 0

Debt - Components of Mortgage Debt (Footnotes) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended				12 Months Ended	0 Months Ended			0 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014 Senior Secured Revolving Credit Facility Property	Dec. 31, 2014 Senior Secured Revolving Credit Facility LIBOR	Mar. 21, 2014 Residence Inn by Marriott Garden Grove, CA	Jun. 09, 2014 Silicon Valley I, Silicon Valley II, San Mateo and Mountain View Loans	Jun. 09, 2014 Silicon Valley I, Silicon Valley II, San Mateo and Mountain View Loans mortgage	Jul. 02, 2014 SpringHill Suites by Marriott Savannah, GA	Nov. 25, 2014 Billerica And Carlsbad Hotel Loans	Nov. 25, 2014 Billerica And Carlsbad Hotel Loans mortgage	Dec. 17, 2014 Hampton Inn & Suites Houston Medical Cntr., TX
Participating Mortgage Loans [Line Items]
Number of properties in borrowing base securing borrowing under credit facility				10
Debt instrument, basis spread on variable rate					2.50%
Loan term						10 years						10 years
Loans amortization payment term						30 years	30 years		30 years	30 years		30 years
Debt instrument, interest only term						12 months	60 months		60 months	36 months		36 months
Loss on early extinguishment of debt	$ 184	$ 933	$ 0			$ 184
Debt instrument, number of loans								4			2
Debt instrument, term							10 years		10 years	10 years

Debt - Summary of Amendment to Senior Secured Revolving Credit Facility (Details) (USD $)	0 Months Ended	12 Months Ended
	Dec. 11, 2013	Dec. 31, 2014
Debt Disclosure [Abstract]
Percentage of adjusted funds from operations	95.00%
Facility amount		$ 175,000,000
Interest rate applicable margin		200-300 basis points, based on leverage ratio
Unused fee		25 basis points if less than 50% unused, 35 basis points if more than 50% unused
Minimum fixed charge coverage ratio		1.5

Debt - Summary of Amendment to Senior Secured Revolving Credit Facility (Descriptors) (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Senior Secured Notes [Line Items]
Amounts which can be increased to the credit facility, subject to lender approval.	$ 50,000,000
Minimum
Senior Secured Notes [Line Items]
Line of credit, interest spread basis points	2.00%
Line of credit facility commitment fee, basis points	0.25%
Maximum
Senior Secured Notes [Line Items]
Line of credit, interest spread basis points	3.00%
Line of credit facility commitment fee, basis points	0.35%

Debt - Additional Information (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility	$ 22,500,000	$ 50,000,000
Maximum borrowing availability under revolving credit facility	175,000,000
Consolidated fixed charge coverage ratio	3.15
Fixed Rate Debt
Debt Instrument [Line Items]
Estimated fair value of debt	542,500,000	220,000,000
Variable rate debt
Debt Instrument [Line Items]
Estimated fair value of debt	22,500,000	50,000,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding borrowing under the revolving credit facility	22,500,000	50,000,000
Number of properties in borrowing base securing borrowing under credit facility	10
Maximum borrowing availability under revolving credit facility	$ 175,000,000

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References+ Details

Debt - Future Scheduled Principal Payments of Debt Obligations (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
2015	$ 8,062
2016	31,978
2017	3,971
2018	5,012
2019	7,046
Thereafter	494,152
Total	$ 550,221	$ 272,063

Income Taxes - Components of Income Tax Expense (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current:
Federal	$ 82	$ 93	$ 55
State	27	30	19
Current tax expense	109	123	74
Deferred:
Federal	(3)	0	1
State	(1)	1	0
Deferred tax expense	(4)	1	1
Total tax expense	$ 105	$ 124	$ 75

- Definition

Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Income Taxes - Difference Between Total Income Taxes Expense and Amount Computed at Statutory Federal Income Tax Rate (Detail) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Disclosure Difference Between Total Income Taxes Expense And Amount Computed At Statutory Federal Income Tax Rate [Abstract]
Book income (loss) before income taxes	$ (520)	$ (2,080)	$ 159
Statutory rate of 34% applied to pre-tax income	(178)	(707)	54
Effective of state and local income taxes, net of federal tax benefit	(14)	(82)	20
Provision to return and deferred adjustment	40	118	0
Change in valuation allowance	257	795	1
Total tax expense	$ 105	$ 124	$ 75
Effective tax rate	(20.19%)	(5.96%)	47.17%

Income Taxes - Additional Information (Details) (USD $)	12 Months Ended
Income Taxes - Additional Information (Details) (USD $)	Dec. 31, 2014 Trs Lessee One	Dec. 31, 2014 Trs Lessee Two	Dec. 31, 2013 Trs Lessee Two
Income Taxes [Line Items]
Gross deferred tax asset associated with future tax deductions	$ 1,297,000	$ 10,000
Recorded valuation allowance equal to gross deferred tax asset	100.00%
Deferred tax assets, valuation allowance		$ 0	$ 0

Income Taxes - Tax Effect of Each Type of Temporary Difference and Carry Forward that Gives Rise to Deferred Tax Asset (Detail) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Disclosure Tax Effect Of Each Type Of Temporary Difference And Carry Forward That Gives Rise To Deferred Tax Asset [Abstract]
Allowance for doubtful accounts	$ 28	$ 11
Other	230	101
Valuation allowance	(248)	(89)
Current deferred tax asset	10	23
Total book to tax difference in partnership	(165)	(149)
Net operating loss	1,214	1,100
Valuation allowance	(1,049)	(951)
Non-current deferred tax asset	0	0
Net deferred tax asset	$ 10	$ 23

Dividends Declared and Paid - Additional Information (Details) (USD $)	1 Months Ended																								3 Months Ended								12 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Oct. 31, 2014	Sep. 30, 2014	Aug. 31, 2014	Jul. 31, 2014	Jun. 30, 2014	May 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Feb. 28, 2014	Jan. 31, 2014	Dec. 31, 2013	Nov. 30, 2013	Oct. 31, 2013	Sep. 30, 2013	Aug. 31, 2013	Jul. 31, 2013	Jun. 30, 2013	May 31, 2013	Apr. 30, 2013	Mar. 31, 2013	Feb. 28, 2013	Jan. 31, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Common shares, dividend declared per share	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.24	$ 0.24	$ 0.24	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.93	$ 0.84	$ 0.775
Long-term incentive plan (LTIP) units, distributions per unit	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.24	$ 0.24	$ 0.24	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.93	$ 0.84	$ 0.775
Percentage of distribution considered taxable income																																	97.70%	85.70%
Percentage of distribution considered return of capital																																	2.30%	14.30%

Dividends Declared and Paid - Dividend Information (Details) (USD $)	1 Months Ended																								3 Months Ended								12 Months Ended
	Dec. 31, 2014	Nov. 30, 2014	Oct. 31, 2014	Sep. 30, 2014	Aug. 31, 2014	Jul. 31, 2014	Jun. 30, 2014	May 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Feb. 28, 2014	Jan. 31, 2014	Dec. 31, 2013	Nov. 30, 2013	Oct. 31, 2013	Sep. 30, 2013	Aug. 31, 2013	Jul. 31, 2013	Jun. 30, 2013	May 31, 2013	Apr. 30, 2013	Mar. 31, 2013	Feb. 28, 2013	Jan. 31, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Equity [Abstract]
Record Date	Dec. 31, 2014	Nov. 28, 2014	Oct. 31, 2014	Sep. 30, 2014	Aug. 29, 2014	Jul. 31, 2014	Jun. 30, 2014	May 30, 2014	Apr. 30, 2014	Mar. 31, 2014	Feb. 28, 2014	Jan. 31, 2014	Dec. 31, 2013	Nov. 29, 2013	Oct. 31, 2013	Sep. 30, 2013	Aug. 30, 2013	Jul. 31, 2013	Jun. 28, 2013	May 31, 2013	Apr. 30, 2013	Mar. 28, 2013	Feb. 28, 2013	Jan. 31, 2013
Payment Date	Jan. 30, 2015	Dec. 26, 2014	Nov. 28, 2014	Oct. 31, 2014	Sep. 26, 2014	Aug. 29, 2014	Jul. 25, 2014	Jun. 27, 2014	May 30, 2014	Apr. 25, 2014	Mar. 28, 2014	Feb. 28, 2014	Jan. 31, 2014	Dec. 27, 2013	Nov. 29, 2013	Oct. 25, 2013	Sep. 27, 2013	Aug. 30, 2013	Jul. 26, 2013	Jun. 28, 2013	May 31, 2013	Apr. 26, 2013	Mar. 29, 2013	Feb. 22, 2013
Common share distribution amount	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.24	$ 0.24	$ 0.24	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.93	$ 0.84	$ 0.775
LTIP unit distribution amount	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.07	$ 0.24	$ 0.24	$ 0.24	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.93	$ 0.84	$ 0.775
Ordinary Income	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.078	$ 0.069	$ 0.069	$ 0.069	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.06	$ 0.234	$ 0.234	$ 0.234	$ 0.207	$ 0.18	$ 0.18	$ 0.18	$ 0.18	$ 0.909	$ 0.72
Return of Capital	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.002	$ 0.001	$ 0.001	$ 0.001	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.006	$ 0.006	$ 0.006	$ 0.003	$ 0.03	$ 0.03	$ 0.03	$ 0.03	$ 0.021	$ 0.12

Shareholders' Equity - Additional Information (Details) (USD $)	56 Months Ended		0 Months Ended					12 Months Ended		1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended
	Dec. 31, 2014 vote	Dec. 31, 2013	Jun. 04, 2014 Long Term Incentive Plan Units officer	Sep. 30, 2013 Long Term Incentive Plan Units officer	Dec. 31, 2014 Long Term Incentive Plan Units	Jun. 04, 2014 Long Term Incentive Plan Units	Dec. 31, 2013 Long Term Incentive Plan Units	Dec. 31, 2014 Equity Incentive Plans	Dec. 31, 2013 Equity Incentive Plans	Jan. 31, 2014 DRSP Plan	Dec. 31, 2014 DRSP Plan	Dec. 31, 2013 DRSP Plan	Jan. 31, 2014 ATM Plan	Dec. 31, 2014 ATM Plan	Dec. 31, 2013 ATM Plan
Stockholders Equity Note Disclosure [Line Items]
Common shares, shares authorized (in shares)	500,000,000	500,000,000
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Number of votes per common share	1
Common shares, shares outstanding (in shares)	34,173,691	26,295,558
Stock Purchase Plan, Authorized Amount										$ 25,000,000			$ 50,000,000
Additional common shares issued (in shares)	32,931,000										2,083	0		880,820	0
Stock Purchase Plan, Average Price Per Share (in dollars per share)											$ 24.38			$ 23.54
Stock Purchase Plan, Remaining Authorized Repurchase Amount											$ 24,949,000			$ 29,264,000
Common shares withheld to meet the minimum statutory tax withholding requirements (in shares)								867	445
Common shares price per share, withheld to meet the minimum statutory tax withholding requirements (in dollars per share)								$ 20.63	$ 16.31
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Operating Partnership common units held by unaffiliated third parties (in shares)	0	0
Operating partnership unit (in shares)					257,775		257,775
LTIP units achieving full parity (in shares)				26,250		231,525
Number of recipients			2	1
Percent of units with full parity that have vested					80.00%

Shareholders' Equity (Details) (USD $) In Millions, except Share data, unless otherwise specified	56 Months Ended	0 Months Ended									0 Months Ended
	Dec. 31, 2014	Apr. 21, 2010 Initial public offering	Apr. 21, 2010 Private placement offering	Sep. 24, 2014 Follow-on common share offering	Sep. 30, 2013 Follow-on common share offering	Jun. 18, 2013 Follow-on common share offering	Jan. 14, 2013 Follow-on common share offering	Feb. 08, 2011 Follow-on common share offering	Sep. 24, 2014 Follow-on common share offering	Jun. 18, 2013 Follow-on common share offering	Sep. 24, 2014 Over-allotment option	Oct. 11, 2013 Over-allotment option	Jun. 28, 2013 Over-allotment option	Jan. 31, 2013 Over-allotment option	Feb. 08, 2011 Over-allotment option	Sep. 24, 2014 Over-allotment option
Class of Stock [Line Items]
Additional common shares issued (in shares)	32,931,000	8,625,000	500,000	6,000,000	3,250,000	4,500,000	3,500,000	4,000,000			900,000	487,500	475,823	92,677	600,000
Common stock price per share (in dollars per share)		$ 20	$ 20		$ 18.35		$ 14.7	$ 16	$ 21.85	$ 16.35		$ 18.35	$ 16.35	$ 14.7	$ 16	$ 21.85
Gross proceeds from common share offering	$ 609.6	$ 172.5	$ 10.0	$ 131.1	$ 59.6	$ 73.6	$ 51.4	$ 64.0			$ 19.7	$ 8.9	$ 7.8	$ 1.4	$ 9.6
Net proceeds from common share offering	$ 574.9	$ 158.7	$ 10.0	$ 125.6	$ 56.7	$ 70.0	$ 48.4	$ 60.3			$ 18.9	$ 8.5	$ 7.4	$ 1.3	$ 9.1

Earnings Per Share - Reconciliation of Amounts Used in Calculating Basic and Diluted Net Income (Loss) Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Numerator:
Net income (loss)									$ 66,873	$ 2,982	$ (1,450)
Dividends paid on unvested shares and units									(216)	(294)	(272)
Undistributed earnings allocated to unvested shares and units									(324)	0	0
Net income (loss) attributable to common shareholders	$ (5,660)	$ 8,664	$ 65,137	$ (1,808)	$ (188)	$ 2,469	$ 2,103	$ (1,696)	$ 66,333	$ 2,688	$ (1,722)
Denominator:
Weighted average number of common shares - basic (in shares)	33,972,134	27,370,815	26,437,878	26,271,678	26,160,823	22,508,988	18,147,108	17,212,124	28,531,094	21,035,892	13,811,691
Effect of dilutive securities:
Unvested shares (in shares)									315,630	247,939
Weighted average number of common shares - diluted (in shares)	33,972,134	27,695,347	26,734,919	26,271,678	26,160,823	22,769,282	18,383,626	17,212,124	28,846,724	21,283,831	13,811,691
Basic income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share (in dollars per share)	$ (0.16)	$ 0.32	$ 2.46	$ (0.07)					$ 2.32	$ 0.13	$ (0.12)
Diluted income (loss) per Common Share:
Net income (loss) attributable to common shareholders per weighted average common share (in dollars per share)	$ (0.16)	$ 0.31	$ 2.44	$ (0.07)					$ 2.30	$ 0.13	$ (0.12)

Equity Incentive Plan - Additional Information (Details) (USD $) In Thousands, except Share data, unless otherwise specified				1 Months Ended			12 Months Ended			0 Months Ended	12 Months Ended			12 Months Ended								0 Months Ended				12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jan. 31, 2014 Independent Trustees	Jan. 31, 2013 Independent Trustees	Jan. 31, 2012 Independent Trustees	Dec. 31, 2014 Independent Trustees	Dec. 31, 2013 Independent Trustees	Dec. 31, 2012 Independent Trustees	Jan. 15, 2015 Independent Trustees Subsequent Event	Dec. 31, 2014 Minimum	Dec. 31, 2014 Maximum	May 17, 2013 Equity Incentive Plan	Dec. 31, 2014 Equity Incentive Plan Minimum	Dec. 31, 2014 Equity Incentive Plan Maximum	Dec. 31, 2014 2010 Equity Incentive Plan	Dec. 31, 2014 Time-based Restricted Stock Awards	Dec. 31, 2014 Performance-based Restricted Stock Awards	Dec. 31, 2014 Restricted Stock	Dec. 31, 2013 Restricted Stock	Dec. 31, 2012 Restricted Stock	Jun. 04, 2014 Long Term Incentive Plan Units officer	Sep. 30, 2013 Long Term Incentive Plan Units officer	Sep. 09, 2010 Long Term Incentive Plan Units	Apr. 21, 2010 Long Term Incentive Plan Units	Dec. 31, 2014 Long Term Incentive Plan Units	Dec. 31, 2013 Long Term Incentive Plan Units	Dec. 31, 2012 Long Term Incentive Plan Units	Jun. 04, 2014 Long Term Incentive Plan Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized													3,000,000
Vesting period for share awards under equity														3 years	5 years									5 years
Common shares available for issuance (in shares)																2,296,458
Vesting period																	3 years	3 years
Compensation expense valuation of performance-based shares (in dollars per share)	$ 13.17	$ 10.93	$ 10.20
Unrecognized compensation costs																			$ 1,458	$ 1,214
Weighted - average period for recognition of unrecognized compensation costs																			1 year 10 months 24 days							0 years 4 months 26 days
Compensation expense recognized																			1,275	966	883					783	783	783
Shares granted (in shares)																			87,018	81,658	114,567			26,250	246,960
Shares forfeited (in shares)																								15,435
Expected stabilized dividend yield																										5.00%
Risk free interest rate																										2.33%
Number of years of Treasury yield considered																										5 years
Total unrecognized compensation cost related to LTIP Units	267	1,049
LTIP units achieving full parity (in shares)																							26,250						231,525
Number of recipients																						2	1
Percent of units with full parity that have vested																										80.00%
Trustee Fees							$ 75	$ 75	$ 75
Trustee Fees, Paid In Shares, Percentage											50.00%	100.00%
Common shares issued as compensation for services performed (in shares)				16,542	22,536	27,592				14,113
Number of trading days preceding the reporting date for which average of closing price of common shares is taken																10 days

Equity Incentive Plan - Restricted Share Awards Granted and Vested (Details)	0 Months Ended	34 Months Ended	0 Months Ended	23 Months Ended	0 Months Ended	11 Months Ended	0 Months Ended	34 Months Ended	0 Months Ended	19 Months Ended	0 Months Ended	11 Months Ended
	Feb. 23, 2012 Time-based Restricted Stock Awards Awarded February 23, 2012	Dec. 31, 2014 Time-based Restricted Stock Awards Awarded February 23, 2012	Jan. 29, 2013 Time-based Restricted Stock Awards Awarded January 29, 2013	Dec. 31, 2014 Time-based Restricted Stock Awards Awarded January 29, 2013	Jan. 31, 2014 Time-based Restricted Stock Awards Awarded January 31, 2014	Dec. 31, 2014 Time-based Restricted Stock Awards Awarded January 31, 2014	Feb. 23, 2012 Performance-based Restricted Stock Awards Awarded February 23, 2012	Dec. 31, 2014 Performance-based Restricted Stock Awards Awarded February 23, 2012	May 17, 2013 Performance-based Restricted Stock Awards Awarded May 17, 2013	Dec. 31, 2014 Performance-based Restricted Stock Awards Awarded May 17, 2013	Jan. 31, 2014 Performance-based Restricted Stock Awards Awarded January 31, 2014	Dec. 31, 2014 Performance-based Restricted Stock Awards Awarded January 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Shares Granted	61,376		40,829		48,213		53,191		40,829		38,805
Vested		40,918		13,611		0		35,462		13,611		0

Equity Incentive Plan - Summary of Restricted Share Awards (Details) (Restricted Stock, USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Restricted Stock
Summary of company's restricted share awards
Number of Shares, Nonvested at beginning of the period (in shares)	158,035	140,077	51,029
Number of Shares, Granted (in shares)	87,018	81,658	114,567
Number of Shares, Vested (in shares)	(65,412)	(63,700)	(25,519)
Number of Shares, Nonvested at end of the period (in shares)	179,641	158,035	140,077
Summary of company's restricted share awards, weighted average grant date fair value
Weighted - Average Grant Date Fair Value, Nonvested at beginning of the period (in dollars per share)	$ 12.39	$ 12.70	$ 19.04
Weighted - Average Grant Date Fair Value, Granted (in dollars per share)	$ 17.46	$ 13.43	$ 11.28
Weighted - Average Grant Date Fair Value, Vested (in dollars per share)	$ 12.17	$ 14.39	$ 19.04
Weighted - Average Grant Date Fair Value, Nonvested at end of the period (in dollars per share)	$ 14.92	$ 12.39	$ 12.70

Commitments and Contingencies - Additional Information (Details) (USD $)	12 Months Ended
	Dec. 31, 2014 Term	Dec. 31, 2013	Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]
Estimated Litigation Liability, Current	$ 287,000
Capital Leased Assets [Line Items]
Maximum additional terms up to which ground lease can be extended	12
Periods in each additional renewal term	5 years
Approximate rent when monthly occupancy is less than 85%	7,500
Percentage of occupancy under condition one (less than)	85.00%
Approximate rent when monthly occupancy is 100%	20,000
Percentage of occupancy under condition two	100.00%
Minimum percentage of annual rent increase	2.50%
Percentage Of Hotel Net Operating Income Less Certain Expenses Paid For Aggregate Yearly Management Fee	10.00%
Incentive Management Fee	1.00%
Management fees recorded within hotel other operating expenses	6,096,000	3,752,000	2,872,000
Franchise fees recorded within hotel other operating expenses	15,110,000	9,394,000	7,529,000
Island Hospitality Management Inc.
Capital Leased Assets [Line Items]
Management fees recorded within hotel other operating expenses	161,000	63,000	16,000
Hotel Management Agreement \| Island Hospitality Management Inc.
Capital Leased Assets [Line Items]
Initial terms of management agreements	5 years
Minimum notice period for termination of management agreement	6 months
Number of renewal periods	2
Renewal periods of management agreements	5 years
Concord \| Hotel Management Agreement
Capital Leased Assets [Line Items]
Periods in each additional renewal term	1 year
Initial terms of management agreements	10 years
Expiry date of initial term of management agreement	Feb. 28, 2017
Minimum notice period for termination of management agreement	90 days
Ground Leases
Capital Leased Assets [Line Items]
Lease expiration date	Apr. 30, 2029
Air Rights Lease And Garage Lease
Capital Leased Assets [Line Items]
Lease expiration date	Dec. 01, 2104
Number of parking spaces occupied by hotel	128
Operating Leases, Rent Expense	$ 116,000

Commitments and Contingencies - Minimum Future Obligation Payments Required Under Ground Leases (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
Minimum future obligation payments required under ground leases
2015	$ 210
2016	212
2017	214
2018	217
2019	219
Thereafter	11,009
Total	$ 12,081

Related Party Transactions - Additional Information (Details) (USD $)	12 Months Ended
	Dec. 31, 2014 Hotel	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]
Number of hotels in ownership by Company	34
Management and accounting fees paid by the company	$ 5,800,000	$ 3,400,000	$ 2,300,000
Amounts due to related party	600,000	500,000
Management fees recorded within hotel other operating expenses	6,096,000	3,752,000	2,872,000
NewINK Joint Venture
Related Party Transaction [Line Items]
Number of hotels in ownership by Company	47
Inland Joint Venture
Related Party Transaction [Line Items]
Number of hotels in ownership by Company	48
Number of hotels acquired	48
Island Hospitality Management Inc.
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	90.00%
Number of hotels managed by related party	32
Management fees recorded within hotel other operating expenses	$ 161,000	$ 63,000	$ 16,000
Island Hospitality Management Inc. \| Inland Joint Venture
Related Party Transaction [Line Items]
Number of hotels managed by related party	34
NorthStar Realty Finance Corp
Related Party Transaction [Line Items]
Ownership percentage in related party owned by the company's chairman	2.50%

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

+ References+ Details

Quarterly Operating Results (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 52,610	$ 60,662	$ 47,077	$ 36,866	$ 34,333	$ 35,370	$ 30,746	$ 25,779	$ 197,216	$ 126,228	$ 100,464
Total hotel operating expenses	48,095	45,979	42,076	34,370	30,781	29,359	25,730	22,997	170,520	108,867	85,814
Operating income	4,516	14,683	5,001	2,496	3,552	6,011	5,016	2,782	26,696	17,361	14,650
Net income (loss) attributable to common shareholders	$ (5,660)	$ 8,664	$ 65,137	$ (1,808)	$ (188)	$ 2,469	$ 2,103	$ (1,696)	$ 66,333	$ 2,688	$ (1,722)
Income (loss) per common share, basic (in dollars per share)	$ (0.16)	$ 0.32	$ 2.46	$ (0.07)					$ 2.32	$ 0.13	$ (0.12)
Income (loss) per common share, diluted (in dollars per share)	$ (0.16)	$ 0.31	$ 2.44	$ (0.07)					$ 2.30	$ 0.13	$ (0.12)
Income (loss) per common share, basic and diluted (in dollars per share)					$ (0.01)	$ 0.11	$ 0.12	$ (0.10)
Weighted average number of common shares outstanding:
Basic (in shares)	33,972,134	27,370,815	26,437,878	26,271,678	26,160,823	22,508,988	18,147,108	17,212,124	28,531,094	21,035,892	13,811,691
Diluted (in shares)	33,972,134	27,695,347	26,734,919	26,271,678	26,160,823	22,769,282	18,383,626	17,212,124	28,846,724	21,283,831	13,811,691

Subsequent Events (Details) (USD $)	56 Months Ended	0 Months Ended							0 Months Ended						0 Months Ended		0 Months Ended
Subsequent Events (Details) (USD $)	Dec. 31, 2014	Sep. 24, 2014 Follow-on common share offering	Sep. 30, 2013 Follow-on common share offering	Jun. 18, 2013 Follow-on common share offering	Jan. 14, 2013 Follow-on common share offering	Feb. 08, 2011 Follow-on common share offering	Sep. 24, 2014 Follow-on common share offering	Jun. 18, 2013 Follow-on common share offering	Sep. 24, 2014 Over-allotment option	Oct. 11, 2013 Over-allotment option	Jun. 28, 2013 Over-allotment option	Jan. 31, 2013 Over-allotment option	Feb. 08, 2011 Over-allotment option	Sep. 24, 2014 Over-allotment option	Jan. 27, 2015 Subsequent Event Follow-on common share offering	Jan. 27, 2015 Subsequent Event Follow-on common share offering	Jan. 27, 2015 Subsequent Event Over-allotment option	Feb. 26, 2015 Subsequent Event San Diego Acquisition
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross																		$ 90,000,000
Base Management Fee																		3.00%
Additional common shares issued (in shares)	32,931,000	6,000,000	3,250,000	4,500,000	3,500,000	4,000,000			900,000	487,500	475,823	92,677	600,000		4,025,000		525,000
Common stock price per share (in dollars per share)			$ 18.35		$ 14.7	$ 16	$ 21.85	$ 16.35		$ 18.35	$ 16.35	$ 14.7	$ 16	$ 21.85		$ 30.00
Net proceeds from common share offering	$ 574,900,000	$ 125,600,000	$ 56,700,000	$ 70,000,000	$ 48,400,000	$ 60,300,000			$ 18,900,000	$ 8,500,000	$ 7,400,000	$ 1,300,000	$ 9,100,000		$ 119,000,000

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Detail) (USD $) In Thousands, unless otherwise specified							12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2014 Homewood Suites Orlando - Maitland, FL	Dec. 31, 2014 Homewood Suites Boston - Billerica, MA	Dec. 31, 2014 Homewood Suites Minneapolis - Mall of America, Bloomington, MN	Dec. 31, 2014 Homewood Suites Nashville - Brentwood, TN	Dec. 31, 2014 Homewood Suites Dallas - Market Center, Dallas, TX	Dec. 31, 2014 Homewood Suites Hartford - Farmington, CT	Dec. 31, 2014 Hampton Inn & Suites Houston - Houston, TX	Dec. 31, 2014 Residence Inn Holtsville - Holtsville, NY	Dec. 31, 2014 Courtyard Altoona - Altoona, PA	Dec. 31, 2014 SpringHill Suites Washington - Washington, PA	Dec. 31, 2014 Residence Inn White Plains - White Plains, NY	Dec. 31, 2014 Residence Inn New Rochelle - New Rochelle, NY	Dec. 31, 2014 Homewood Suites Carlsbad - Carlsbad, CA	Dec. 31, 2014 Residence Inn Garden Grove - Garden Grove, CA	Dec. 31, 2014 Residence Inn Mission Valley - San Diego, CA	Dec. 31, 2014 Homewood Suites San Antonio - San Antonio, TX	Dec. 31, 2014 Doubletree Suites Washington DC - Washington, DC	Dec. 31, 2014 Residence Inn Tyson's Corner - Vienna, VA	Dec. 31, 2014 Hampton Inn Portland Downtown - Portland, ME	Dec. 31, 2014 Courtyard Houston - Houston, TX	Dec. 31, 2014 Hyatt Place Pittsburgh - Pittsburgh, PA	Dec. 31, 2014 Hampton Inn & Suites Exeter - Exeter, NH	Dec. 31, 2014 Hilton Garden Inn Denver Tech - Denver, CO	Dec. 31, 2014 Residence Inn Bellevue - Bellevue, WA	Dec. 31, 2014 SpringHill Suites Savannah - Savannah, GA	Dec. 31, 2014 Residence Inn Silicon Valley I - Sunnyvale, CA	Dec. 31, 2014 Residence Inn Silicon Valley II - Sunnyvale, CA	Dec. 31, 2014 Residence Inn San Mateo - San Mateo, CA	Dec. 31, 2014 Residence Inn Mt. View - Mountain View, CA	Dec. 31, 2014 Hyatt Place Cherry Creek - Cherry Creek, CO	Dec. 31, 2014 Courtyard Addison - Dallas, TX	Dec. 31, 2014 Courtyard West University - Houston, TX	Dec. 31, 2014 Residence Inn West University - Houston, TX	Dec. 31, 2014 Hilton Garden Inn Burlington - Burlington, MA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Description							Homewood Suites Orlando - Maitland, FL	Homewood Suites Boston - Billerica, MA	Homewood Suites Minneapolis - Mall of America, Bloomington, MN	Homewood Suites Nashville - Brentwood, TN	Homewood Suites Dallas - Market Center, Dallas, TX	Homewood Suites Hartford - Farmington, CT	Hampton Inn & Suites Houston - Houston, TX	Residence Inn Holtsville - Holtsville, NY	Courtyard Altoona - Altoona, PA	SpringHill Suites Washington - Washington, PA	Residence Inn White Plains - White Plains, NY	Residence Inn New Rochelle - New Rochelle, NY	Homewood Suites Carlsbad - Carlsbad, CA	Residence Inn Garden Grove - Garden Grove, CA	Residence Inn Mission Valley - San Diego, CA	Homewood Suites San Antonio - San Antonio, TX	Doubletree Suites Washington DC - Washington, DC	Residence Inn Tyson's Corner - Vienna, VA	Hampton Inn Portland Downtown - Portland, ME	Courtyard Houston - Houston, TX	Hyatt Place Pittsburgh - Pittsburgh, PA	Hampton Inn & Suites Exeter - Exeter, NH	Hilton Garden Inn Denver Tech - Denver, CO	Residence Inn Bellevue - Bellevue, WA	SpringHill Suites Savannah - Savannah, GA	Residence Inn Silicon Valley I - Sunnyvale, CA	Residence Inn Silicon Valley II - Sunnyvale, CA	Residence Inn San Mateo - San Mateo, CA	Residence Inn Mt. View - Mountain View, CA	Hyatt Place Cherry Creek - Cherry Creek, CO	Courtyard Addison - Dallas, TX	Courtyard West University - Houston, TX	Residence Inn West University - Houston, TX	Hilton Garden Inn Burlington - Burlington, MA
Year of Acquisition							2010	2010	2010	2010	2010	2010	2010	2010	2010	2010	2010	2010	2010	2011	2011	2011	2011	2011	2012	2013	2013	2013	2013	2013	2013	2014	2014	2014	2014	2014	2014	2014	2014	2014
Encumbrances								$ 16,225					$ 18,300		$ 6,172	$ 4,760		$ 14,832	$ 19,950	$ 34,000	$ 30,062	$ 17,174		$ 23,534		$ 19,475	$ 23,657			$ 47,580	$ 30,000	$ 64,800	$ 70,700	$ 48,600	$ 37,900
Initial Cost, Land	260,782						1,800	1,470	3,500	1,525	2,500	1,325	3,200	2,200	0	1,000	2,200	0	3,900	7,109	9,856	5,999	6,083	5,752	4,315	5,600	3,000	1,900	4,100	13,800	2,400	42,652	46,474	38,420	22,019	3,700	2,413	2,012	3,640	4,918
Initial Cost, Buildings & Improvements	819,142						7,200	10,555	13,960	9,300	7,583	9,375	12,709	18,765	10,730	10,692	17,677	20,281	27,520	35,484	39,535	24,764	22,063	28,917	22,664	27,350	35,576	12,350	23,100	56,957	36,050	45,846	50,380	31,352	31,813	26,300	21,554	17,916	25,631	27,193
Cost Cap. Sub. To Acq. Land	326						34	48	19	12	17	92	56	0	0	0	0	9	0	0	0	2	28	0	0	0	0	4	5	0	0	0	0	0	0	0	0	0	0	0
Cost Cap. Sub. To Acq. Bldg & Improvements	25,254						1,418	1,022	1,314	1,204	1,003	1,274	656	923	894	842	4,399	2,377	92	1,075	318	501	4,637	127	3	99	113	4	351	232	123	67	51	89	32	14	0	0	0	0
Gross Amount at End of Year, Land	261,108						1,834	1,518	3,519	1,537	2,517	1,417	3,256	2,200	0	1,000	2,200	9	3,900	7,109	9,856	6,001	6,111	5,752	4,315	5,600	3,000	1,904	4,105	13,800	2,400	42,652	46,474	38,420	22,019	3,700	2,413	2,012	3,640	4,918
Gross Amount at End of Year, Buildings & Improvements	844,396						8,618	11,577	15,274	10,504	8,586	10,649	13,365	19,688	11,624	11,534	22,076	22,658	27,612	36,559	39,853	25,265	26,700	29,044	22,667	27,449	35,689	12,354	23,451	57,189	36,173	45,913	50,431	31,441	31,845	26,314	21,554	17,916	25,631	27,193
Gross Amount at End of Year, Total	1,105,504	654,560	423,729	392,463	200,974	0	10,452	13,095	18,793	12,041	11,103	12,066	16,621	21,888	11,624	12,534	24,276	22,667	31,512	43,668	49,709	31,266	32,811	34,796	26,982	33,049	38,689	14,258	27,556	70,989	38,573	88,565	96,905	69,861	53,864	30,014	23,967	19,928	29,271	32,111
Accumulated Depreciation	$ 50,910	$ 28,980	$ 17,398	$ 8,394	$ 1,901	$ 0	$ 1,125	$ 1,571	$ 1,988	$ 1,399	$ 1,214	$ 1,433	$ 1,562	$ 2,275	$ 1,372	$ 1,354	$ 2,202	$ 2,607	$ 2,883	$ 3,260	$ 3,468	$ 2,222	$ 2,306	$ 2,522	$ 1,141	$ 1,304	$ 1,380	$ 431	$ 741	$ 1,668	$ 970	$ 1,726	$ 1,896	$ 1,182	$ 1,198	$ 225	$ 66	$ 56	$ 79	$ 84
Year of Original Construction							2000	1999	1998	1998	1998	1999	1997	2004	2001	2000	1982	2000	2008	2003	2003	1996	1974	2001	2011	2010	2011	2010	1999	2008	2009	1983	1985	1985	1985	1987	2000	2004	2004	1975

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION (Parenthetical) (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Outstanding borrowing under the revolving credit facility	$ 22,500	$ 50,000

- Definition

+ References+ Details

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Depreciable Lives (Detail)	12 Months Ended
	Dec. 31, 2014
Building
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	40 years
Land Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years
Minimum \| Building Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	5 years
Maximum \| Building Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation Life	20 years

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Total Cost of Real Estate Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Balance at the beginning of the year	$ 654,560	$ 423,729	$ 392,463	$ 200,974	$ 0
Acquisitions	444,233	222,273	26,979	185,995	200,967
Dispositions during the year	0	0	(951)	0	0
Capital expenditures and transfers from construction-in-progress	6,711	8,558	5,238	5,494	7
Investment in Real Estate	$ 1,105,504	$ 654,560	$ 423,729	$ 392,463	$ 200,974

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Change in Accumulated Depreciation and Amortization of Real Estate Assets (Detail) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward]
Balance at the beginning of the year	$ 28,980	$ 17,398	$ 8,394	$ 1,901	$ 0
Depreciation and amortization	21,930	11,582	9,004	6,493	1,901
Balance at the end of the year	$ 50,910	$ 28,980	$ 17,398	$ 8,394	$ 1,901

SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION - Aggregate Cost of Properties for Federal Income Tax Purposes - Additional Information (Detail) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Aggregate cost of properties for federal income tax purposes	$ 1,096,425

Allowance for Doubtful Accounts - Additional Information (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Receivables [Abstract]
Hotel receivables, allowance for doubtful accounts	$ 71	$ 30

Commitments and Contingencies - Terms of Management Agreements (Details) (USD $)	12 Months Ended
	Dec. 31, 2014
Real Estate Properties [Line Items]
Incentive Management Fee	1.00%
Courtyard Altoona
Real Estate Properties [Line Items]
Base Management Fee	4.00%
Monthly Accounting Fee	$ 1,211
Monthly Revenue Management Fee	0
Incentive Management Fee	0.00%
Springhill Suites Washington
Real Estate Properties [Line Items]
Base Management Fee	4.00%
Monthly Accounting Fee	991
Monthly Revenue Management Fee	0
Incentive Management Fee	0.00%
Homewood Suites by Hilton Boston-Billerica/ Bedford/ Burlington
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Minneapolis-Mall of America
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Nashville-Brentwood
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Dallas-Market Center
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Hartford-Farmington
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Orlando-Maitland
Real Estate Properties [Line Items]
Base Management Fee	2.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Homewood Suites by Hilton Carlsbad (North San Diego County)
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Hampton Inn & Suites Houston-Medical Center
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn Long Island Holtsville
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn White Plains
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn New Rochelle
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn Garden Grove
Real Estate Properties [Line Items]
Base Management Fee	2.50%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn Mission Valley
Real Estate Properties [Line Items]
Base Management Fee	2.50%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Homewood Suites by Hilton San Antonio River Walk
Real Estate Properties [Line Items]
Base Management Fee	2.50%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn Washington DC
Real Estate Properties [Line Items]
Base Management Fee	2.50%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Residence Inn Tysons Corner
Real Estate Properties [Line Items]
Base Management Fee	2.50%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	0
Incentive Management Fee	1.00%
Hampton Inn Portland Downtown
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Courtyard Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,000
Monthly Revenue Management Fee	550
Incentive Management Fee	1.00%
Hyatt Place Pittsburgh North Shore
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Hampton Inn Exeter
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Hilton Garden Inn Denver Tech
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn Bellevue
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Springhill Suites Savannah
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn Silicon Valley I
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn Silicon Valley II
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn San Mateo
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn Mountain View
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Hyatt Place Cherry Creek
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Courtyard Addison
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Courtyard West University Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Residence Inn West University Houston
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,200
Monthly Revenue Management Fee	1,000
Incentive Management Fee	1.00%
Hilton Garden Inn Burlington
Real Estate Properties [Line Items]
Base Management Fee	3.00%
Monthly Accounting Fee	1,500
Monthly Revenue Management Fee	$ 1,000
Incentive Management Fee	1.00%